PETALING JAYA: Small and medium enterprises (SMEs) are bracing themselves for the full impact of the sweeping tariffs announced by the United States on April 2 over the coming months and are looking for ways to mitigate the risks.
A tariff of 24% was imposed on Malaysia but with key exemptions for semiconductors, wood products, copper and copper products, energy products and pharmaceuticals. According to Malaysia External Trade Development Corp data, electrical and electronics products comprise 54.6% of all exports to the United States.
