Business chamber calls for more incentives to ward off tariff impact
Malaysian businesses, worried about rising import costs, need more initiatives to cope with US tariffs, says an international business chamber.
Christina Tee, president of the Malaysia International Chamber of Commerce and Industry said companies in the manufacturing and export-driven sectors were particularly worried.
“While tariff reliefs and cost-mitigation efforts are noted, SMEs (small and medium size enterprises) still face high imported input costs.
“The government could introduce temporary tariff-drawback schemes or raw material support funds to buffer supply chain disruptions,” she said.
In the long term, strengthening local sourcing and encouraging industrial clustering would reduce the exposure of SMEs to global tariff volatility.
Tee said she supported the rollout of e-invoicing and self-assessment for stamp duty, but called for clearer…
