Echoing a similar stance, International Trade and Industry Minister Datuk Seri Mustapa Mohamed expects the United States’ wide-ranging tariff imposition on Chinese goods to have minimal impact on Malaysia. “Malaysian trade statistics only recorded a US$5bil trade deficit with the United States, while statistics by the United States showed that there was a US$25bil trade deficit,” it said. The Asian and Australian stock markets have faced the brunt as key markets plunged, amid fears of trade war. Aside from that, only 2% of China imports from the United States and 0.2% of China total imports will be affected. “The impact will depend on the ‘end game’ – escalation to full blown trade war or conclusion via concessions on both sides after the current skirmishes.

Source: The Star March 23, 2018 21:56 UTC