PETALING JAYA: Policies restricting free trade would not only impact Malaysia and other Asean nations but would also have repercussions for the United States economy itself, says Prime Minister Datuk Seri Anwar Ibrahim.
Anwar, who is also Finance Minister, said in an interview with TRT World that he would object to any initiatives by the United States under President Donald Trump's administration aimed at imposing tariffs on foreign competitors and allies.
"As a policy, notwithstanding the US position, of course we object.
"For the last many decades, the West has been preaching about free trade.
"And now, emerging economies seem to have established themselves on a strong footing, and suddenly you want to impose these tariffs.
"I, as a matter of principle, would object to this, but then we will have to weather the storm." he said in response to questions about potential trade wars and the planned tariffs by the Trump administration.
Anwar, however, gave his assurances that Malaysia remains committed to fostering strong bilateral ties with both the US and China amidst their ongoing trade disputes.
"The same goes for the EU and other countries such as Turkiye, India, and Australia.
"That is why we have applied to join BRICS to be an effective trading nation," he said.
Anwar added that while there would be a period of "slight uncertainty" following the beginning of Trump’s second tenure, he expressed optimism that stability would soon return.
"We expect some 'minor turbulence' in global affairs.
"From his (Trump) statements, he is very protectionist and wants to focus purely on the US.
"But I believe this will probably settle down after a few months because most of his colleagues and advisers are global corporate players who have as much interest in the US as overseas.
"After a few months of these 'minor shocks', I think things will settle down quite a bit," he said.
Trump had recently announced plans to implement a 10% tariff on Chinese imports starting Feb 1, attributing the decision to China's alleged role in the fentanyl crisis.
According to Trump, fentanyl is being shipped from China via Canada and Mexico into the US.
Addressing the World Economic Forum in a videoconference from Washington, Trump urged global businesses to manufacture products within the US to avoid tariffs.
