The sting of any new US tariffs will be felt by Malaysia regardless of its association with Brics, Prime Minister Anwar Ibrahim has told CNN, saying a quarter of his nation’s crucial microchip and semiconductor exports went to the American market.
During his 25 years as Malaysia’s frontmost opposition figure, Anwar was seen as a pro-Western stalwart.
But he has ruffled feathers since becoming prime minister in 2022 with his vocal support for Hamas and a decision to bring Malaysia into Brics, joining Brazil, Russia, China, India, Iran and several other countries in the bloc.
The US remains Malaysia’s top source for foreign investment as the Southeast Asian country’s deals with American tech giants Amazon Web Services, Google, Microsoft and Oracle are set to potentially bring in US$16.7 billion into the local economy.
Speaking in an interview with CNN’s Richard Quest broadcast on Tuesday, Anwar defended his decision to join the Brics bloc of emerging economies, saying Malaysia as “a trading nation” would be affected by protectionist policies from the White House.
Protectionist policies will affect us
“Whether we join Brics or not, protectionist policies will affect us. I mean a huge [portion of] microchips and semiconductors were exported to the US – 26 per cent – and it will certainly affect us,” Anwar told CNN in an interview recorded before the US presidential election last week.