KUALA LUMPUR — United States President Donald Trump this morning announced reciprocal tariffs on more than 180 countries, reportedly the most aggressive trade levies ever imposed by Washington.
Malaysia was one of the countries to make that list, with a 24 per cent import levy imposed on all goods.
The South-east Asian nation runs a trade surplus against the US, and Trump had said he would use tariffs to reduce the imbalance as part of his election pledge to boost US goods.
A trade surplus means a country exports more than it imports. By slapping tariffs on imports, the US makes foreign goods more expensive.