Source: The Star Online
The government is aware of the potential side effects of the escalating trade war between superpowers US and China and is monitoring the situation very closely.
The deputy minister of international trade and industry affairs Ong Kian Ming said at a press conference of the 13th Malaysian Iron and Steel Industry conference that there is a very strong possibility of dumping of steel products in Malaysia.
“There is also this possibility of other countries using Malaysia as a transshipment point. All these cannot be ruled out as it will have detrimental effects to the country and including to the steel industry,” Ong said.
“If people dump here then our local players will be affected. If Malaysia is used as a transshipment point then there will be anti-dumping measures enacted against Malaysian steel companies by other countries against us,” he added.
Ong said that MITI is actively monitoring the situation very closely and is working closely with industry players to take appropriate action when necessary.
“If there is dumping happening in Malaysia, please take the matter to MITI immediately. Trade circumvention will also affect our status as a trade partner to other countries,” MISIF’s president Datuk Lim Hong Thye said.