Cheap steel may flood Asean, threaten Malaysian producers: industry players
Trade bodies call for measures to safeguard local producers
Add BT as a preferred source
[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.
TRENDING NOW
Firm loses wrongful dismissal case despite following termination clause
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Citi, OCBC downgrade UOB post-Q2 results; RHB upgrades on valuation
Soilbuild’s Lim Chap Huat sues Brookfield, claims it reneged on joint venture: WSJ
