Malaysia refutes US claim on tariffs, doesn’t expect recession

Malaysia denied a US claim that it imposes a tariff of 47% on American imports and said it will continue to engage with Washington to find a fair solution to trade issues.

“Reciprocal tariffs do not serve the principles of free and fair trade stipulated under the World Trade Organization,” the trade ministry said in a statement late Friday, which refuted the US authorities’ assertion that Malaysia charges levies that amount to a 47% tariff on American goods coming into the country.