Cheap steel may flood Asean, threaten Malaysian producers: industry players
Trade bodies call for measures to safeguard local producers
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[KUALA LUMPUR] With the US expanding its tariff net, the potential for a surge in cheap steel imports looms large, placing Malaysian producers at a significant disadvantage, said industry players.
Malaysia’s steel industry has been operating under US tariffs since 2018, when President Donald Trump imposed a 25 per cent duty on iron and steel imports.
However, the new blanket tariff removes previous exemptions for key exporters such as Brazil, Canada, Mexico and South Korea, escalating trade tensions.
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