US tariff may cut 2025 GDP growth by up to 1.2 points, says Tengku Zafrul
Malaysia’s projected GDP growth for 2025 could fall by 0.6 to 1.2 percentage points following the US imposition of a 19% tariff on Malaysian exports, says investment, trade and industry minister Tengku Zafrul Aziz.
In a written parliamentary reply, Tengku Zafrul said the estimate was based on a preliminary analysis by the ministry.
Bank Negara Malaysia has revised its GDP growth projection for 2025 to a range of 4% to 4.8%, down from an earlier forecast of 4.5% to 5.5%.
“For 2026, GDP growth is expected to decrease slightly compared to 2025, as the tariff effects will be felt throughout the year.
“Regarding the impact on inflation in key essential sectors such as transportation, energy, and food, it is still too early to provide precise and conclusive figures,” he said in a written parliamentary reply to Richard Rapu @ Aman anak…
