PETALING JAYA: Chin Well Holdings Bhd
has clarified that the 24% and 46% reciprocal tariffs on Malaysia and Vietnam, respectively, will not apply to the import into the US of the group's manufactured fastener and wire products.
In a filing with Bursa Malaysia, the company nevertheless said its fasteners and wire products imported to the US will be taxed at 25% under Section 232 of the Trade Expansion Act 1962 announced on 26 March 2025.
“Barring any unforeseen circumstances, the group is resilient and cautiously optimistic that the imposition of the 25% tariff under Section 232 of the Trade Expansion Act 1962 will not have any significant impact on the group’s performance in the remaining quarters of the current financial year.”
