SHAH ALAM, May 5 — Prime Minister Datuk Seri Anwar Ibrahim today urged Malaysians to buy more local products in response to US President Donald Trump’s new tariff policies impacting the global economy.
Anwar, who is also the finance minister, said that by buying more Malaysian products, the country can mitigate potential challenges it may face.
“You either become virtually helpless, or gain from this. You sir, you suggested something smart. What? We try and use our local expertise,” he said during a dialogue session with private institution students during the “Temu Anwar IPTS” event at the Management and Science University (MSU) here.
“President Trump said ‘no solar to be exported to America’ because there are Chinese companies based here, but there are other companies. So that’s why our instruction is (for) all schools, universities, hospitals (to) use Malaysian made solar panels.
“This means we can probably mitigate potential problems we may face. And then of course, buy local products as far as possible,” he added.
Anwar’s response came after a student from Universiti Tenaga Nasional suggested taking advantage of the tariffs to promote more local products.
Anwar then said one of Malaysia’s largest exports to the USA is the semiconductors sector.
“About 60 per cent of our products are exported, about RM130 billion. If they decided no from Malaysia, we may have a problem. But for now, semiconductor, E&E are excluded .
“Say if it is partly included, then we have to take measures on how to promote it here,” he said, adding that since taking over as Prime Minister, his role has been to open up new markets.
In October last year, Malaysia was made a partner country in the Brics alliance, alongside its neighbours Thailand and Indonesia.
This latest move appears to be part of Anwar’s ongoing effort to keep Malaysia independent and non-aligned, both economically and geostrategically.
Anwar said joining Brics would offer “economic opportunities free from external pressures”, adding that the alliance aims to strengthen the Global South — a term referring to developing and underdeveloped countries primarily located in the Southern Hemisphere.