KOTA KINABALU: Consumers have been warned to brace for potential economic challenges, including saving more, following the United States’ decision to impose a 24% tariff on goods from Malaysia.
National Consumer Foundation Sabah chapter chairman David Chan expected the move could affect industries that exported heavily to the US, leading to production slowdowns, job cuts, and increased pressure on the labour market.
“As consumers, we need to be prepared for challenging times. It is more important than ever to be smart about how we spend,” he said.
He advised Malaysians to avoid splurging on non-essential or luxury items and instead focus on saving for what could be a bumpy economic period.
Chan also stressed that while the government is expected to explore diplomatic and economic responses, consumers must also play their part.
“Every ringgit saved can go a long way. Let’s stay alert, make informed decisions, and stick together. We’ve overcome tough times before, we can do it again,” he added.
