He said Malaysia’s trade with the US had long been a model of mutual gain, with its exports supporting Malaysia’s growth and high-quality jobs across the US.
But while the Malaysia-US trade relationship had served both countries well, he said the tariff might have a negative impact on both economies.
“We do not believe in megaphone diplomacy,” Anwar said in his keynote address at the Asean Investment Conference here.
“As part of our soft diplomacy of quiet engagement, we will be dispatching our officials to Washington to begin the process of dialogue.
“Malaysia will adapt, as we always have. Winds may shift, but we do not drift. Our trade diversification strategy is already gathering pace.”
On April 2, US president Donald Trump announced a series of new tariffs that directly increased import duties on several of Washington’s Southeast Asian trading partners.
The hardest hit were Cambodia with a basic tariff of 49%, followed by Laos (48%), Vietnam (46%), and Myanmar (44%).
Thailand faces a tariff of 36%, Indonesia 32%, Brunei and Malaysia 24% each, the Philippines 17%, and Singapore 10%.
Reuters reported that White House economic adviser Stephen Miran yesterday encouraged countries hoping to escape high US tariff rates to make offers to Trump, saying the president would welcome moves to lower barriers to US exports.
In his speech, Anwar said that while Malaysia aims to maintain strong trade ties with the US, it will continue to protect its economic interests by strengthening its relationships with major markets in the EU, Asia, the Middle East, and Africa.
He also said Malaysia was committed to developing its border areas – such as north of the peninsula with Thailand, and Sabah and Sarawak’s border with Kalimantan – to promote economic activities for the benefit of people on both sides of the border.
He emphasised the importance of greater economic integration, allowing businesses to leverage Asean as a market and help regional champions grow in sectors such as financial services, energy, healthcare, tourism, telecommunications, and logistics.
Anwar said that while Asean leaders might assume that regional cooperation was progressing at a slow pace or that international trade order was “beyond repair”, Asean had shown itself capable of withstanding numerous challenges throughout its six decades.
“We must move from rhetoric to execution. Tariff liberalisation in the region is largely complete, but regulatory alignment, cross-border logistics, and digital connectivity remain unfinished business,” he said.
“In times like these, there’s a temptation to retreat into nostalgia or fatalism, to think that the international order is beyond repair or regional cooperation is too slow.
“But Asean has always evolved… Its strength lies in durability, not drama.”