PETALING JAYA: Malaysian Investment Development Authority (Mida) chairman Tengku Zafrul Aziz has rebuked ex-minister Rafizi Ramli for claiming that Malaysia would be subject to almost double the tariff rate imposed following a recent US Supreme Court decision.
Tengku Zafrul, a former investment, trade and industry minister, accused Rafizi of distorting the facts.
“Rafizi, stop spinning the facts – it’s exhausting to keep responding. What is this claim about having to pay nearly double the tariff?” he said in a Facebook post.
He said that when the US Supreme Court struck down the tariffs imposed by Donald Trump’s administration, it meant that the 19% imposed on Malaysia no longer applied.
Rafizi had claimed that Malaysia would have to pay almost double the previously imposed tariff following the US court decision, attributing this to the “rush” to sign the reciprocal trade agreement or ART with the superpower.
Trump on Friday vowed to impose a 10% tariff on all imports into the US after the Supreme Court handed him a stinging rebuke by striking down his signature economic policy.
Rafizi said that if anyone should be probed by the Malaysian Anti-Corruption Commission (MACC) for rushing into important agreements, it should be Tengku Zafrul and Prime Minister Anwar Ibrahim with regards to the US trade deal.
MACC is investigating an agreement between the government and a foreign firm, estimated to be worth RM1.1 billion, which was allegedly concluded “hastily” and in a manner that did not favour the government.
Rafizi previously claimed that the controversy surrounding the deal with Arm Holdings, a global semiconductor giant, was being played up to paint him in a negative light.
Tengku Zafrul denied any rush in inking the US trade deal, saying the government had chosen to act early to protect national interests, likening the situation to travel insurance.
“Before travelling, people often think nothing will happen. But if they end up hospitalised overseas, the bill can run into tens of thousands of ringgit. That’s when they understand why paying for takaful or insurance matters.
“ART works the same way – we prepare early. In today’s global environment, those who move slowly pay a heavy price.
“Some people wait for the storm – and only then start talking about how to save the country.”
