AMANAH deputy president Datuk Seri Dr Mujahid Yusof Rawa warns of negative economic impacts, especially on manufacturing, but highlights the Madani Economy, introduced by the unity government, as a buffer.
Malaysia faces a 24% US tariff as part of a trade war affecting 158 countries, potentially raising export prices to the U.S., its largest trade partner (US$80.2 bil in 2024).
But Mujahid, confident of the Madani Economy, says the New Industrial Master Plan (NIMP) within this framework aims to bolster industries, supply chains, and sustainability.
Malaysia is also shifting to renewable energy and leveraging its ASEAN leadership and BRICS status to seek new markets, while MITI explores trade negotiations to mitigate losses, he adds.
“From the perspective of national policy under the leadership of Prime Minister Datuk Seri Dr Anwar Ibrahim, the unity government has, from the outset, laid the groundwork to prepare for uncertainty, forming the basis for the emergence of the Madani Economy.
“Among the products of the Madani Economy is the New Industrial Master Plan (NIMP), which will boost the national industrial sector by focusing on priority industries, strengthening the country’s product supply chain, and expanding the scope of environmental, social, and governance as a primary condition for trade and business.
“All these features are embedded in the core foundation of the Madani Economy, namely sustainability. Sustainability means the ability to remain stable under any condition to continue functioning effectively.
“The NIMP serves as a buffer against global impacts from tariff policy changes and needs further reinforcement,” he said in a statement. — April 6, 2025
