KUALA LUMPUR, Feb. 12 (Xinhua) -- Malaysian Iron and Steel Industry Federation (MISIF), which represents iron and steel products manufacturers in Malaysia, has called for the government's swift action as the U.S. tariffs will lead to a surge of steel products in Malaysia.
MISIF said in a statement on Wednesday that it urged the Malaysian government to reinforce anti-dumping legislation and expedite investigation to mitigate the anticipated trade diversion amid the U.S. tariffs.
The United States has recently announced a 25 percent tariff on steel and aluminium imports.
According to MISIF, the direct consequences of the 25 percent tariff remain uncertain but are expected to accelerate trade diversion, leading to a surge of steel products into the Malaysian market.
"Without immediate and decisive action, Malaysian steel manufacturers will suffer lasting and irreversible damage. We strongly urge the government to take swift action - reinforce anti-dumping legislation, expedite investigations, and implement measures to protect the industry before severe repercussions occur," said MISIF.
It noted that the iron and steel industry is a strategic sector vital to Malaysia's economic growth, supporting key sectors such as infrastructure, construction, and manufacturing.
Without fair trade practices, Malaysian steel producers risk being displaced by unfairly priced imports, leading to plant closures, job losses, and a weakened industrial base, it added. Enditem
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