Insights | Malaysian Official: High tariff policy not conducive to global economic stability

The Beijing Promotion Symposium for the 25th China International Fair for Investment and Trade (CIFIT) was recently held in Beijing. During the event, Unny Sankar Ravi Sankar, Minister of Economic Affairs of the Embassy of Malaysia in China, warned that tariffs and other trade barriers pose risks to global economic stability, and the country firmly adheres to free trade and multilateralism.

Emphasizing that the global supply chains are always intertwined between countries, and the prolonged imposition of additional tariffs would inevitably increase business costs for all nations, Sankar held that it would trigger ripple effects not only on the United States but also on many countries, including Malaysia.

Noting that Malaysia advocates for multilateral cooperation and is committed to deepening economic and trade ties with China and other nations through platforms such as the Regional Comprehensive Economic Partnership and the Belt and Road Initiative, he pointed out that China should leverage its advantages in new emerging technologies such as, semiconductors, robotics, and artificial intelligence, and should enhance technological collaboration with friendly countries to jointly explore future markets. (Xue Lingqiao and Zhao Li)