Malaysia Looks to Wider Network of Trade Partners as Possible US Tariffs Loom

Its partnership with Brics may impact its relationship with the US, says PM Anwar

- Azril Annuar

Malaysia is still uncertain if its partnership with Brics – an alliance of emerging economies – will have any adverse impact on its trade relationship with the US, following President Donald Trump's warning that any attempt by Brics member countries to replace the US dollar as a reserve currency will be met with 100 per cent tariffs.

Prime Minister Anwar Ibrahim told Parliament on Feb 4 that the Cabinet is preparing for all eventualities when it comes to any decision made by the Trump administration, due to geopolitical uncertainties.

“We cannot make any hasty decisions. We are still unsure of its impact on the country. Therefore, we must prepare at the Cabinet level and at a few special committees for any eventuality.

“Our involvement with Brics is still at an early stage,” said Datuk Seri Anwar.

Brics, which originally consisted of Brazil, Russia, India, China and South Africa, has had discussions about establishing a new reserve currency. The group has expanded to include Indonesia, Egypt, Ethiopia, Iran and the United Arab Emirates.

Malaysia is one of Brics’ nine partner countries, but is not a full-fledged member.