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The looming threat of sweeping trade sanctions under US President Donald Trump is set to be a major shakeup for Malaysia’s businesses. But it’s not all doom and gloom. Some sectors such as the country’s glove makers are set to benefit from steeper tariffs on China.
China’s slowing economy is expected to be further hit by Washington’s trade measures, and may spur more of its citizens to seek greener pastures away from home, including in countries like Malaysia. Already, China nationals make up nearly half of the participants in the Malaysia My Second Home visa scheme. Some who have made the move told our correspondent Lu Wei Hoong that they have done so to seek a less stressful life for themselves as well as their children.
Meanwhile, surging global coffee prices have also triggered a caffeine rush among Malaysian planters. With imported beans making up more than 95 per cent of coffee consumed in Malaysia, local growers have plenty of opportunities to benefit by undercutting foreign sources.
Follow ST’s coverage as we continue to bring you the latest developments.
Malaysia set to grab bigger share of US glove market with new Trump tariffs on China goods
The industry makers could gain an additional 10 per cent slice of the US medical glove pie, analysts say.
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As global bean prices surge, coffee planters in Johor are on a caffeine rush
Local planters grow mostly liberica beans that can be cultivated in lower altitudes and warmer weather.