SEBERANG PERAI, April 14 — Penang is accelerating efforts to diversify its export destinations and strengthen supply chain resilience in response to the United States’ recent implementation of retaliatory import tariffs. Chief Minister Chow Kon Yeow said proactive measures are necessary to sustain the state’s economic momentum amid global uncertainty, especially as the US remains Penang’s second-largest export market, contributing RM76 billion in 2023.
Speaking at the Penang Aidilfitri Madani 2025 Celebration Ceremony, Chow emphasized that empowering local enterprises and adapting to current economic conditions are vital to maintaining growth. He also announced the formation of a Penang Tariff Monitoring Task Force, aimed at coordinating trade responses and supporting sectors most affected by the tariffs.
The task force will serve as a strategic hub for policy dialogue and industry engagement. Despite the challenges, Chow noted that Penang continues to lead Malaysia’s export performance, contributing RM9.3 billion in February 2025 alone. He reaffirmed the state’s commitment to ensuring long-term economic sustainability by exploring new markets and reinforcing cooperation with the federal government and regional partners.
The event was attended by Prime Minister Datuk Seri Anwar Ibrahim and several key cabinet members.
