Kota Kinabalu: Sabah’s palm oil sector is bracing for impact following the United States’ decision to impose a 24 per cent reciprocal tariff on Malaysian palm oil effective April 9.
The move was announced by President Donald Trump on April 3 as part of a sweeping wave of trade measures targeting countries with high tariffs on American goods.
Federation of Sabah Industries (FSI) President Richard Lim said the tariffs could reduce export competitiveness, lower demand and place downward pressure on prices, ultimately affecting the livelihoods of smallholders in rural Sabah.
“Smallholders, who make up a majority of oil palm growers in Sabah, could see reduced incomes, threatening economic stability in rural communities,” he told Daily Express.
Advertisement
