PM Paetongtarn Shinawatra assures response measures, including tax adjustments and a negotiation team, aiming for a compromise and preventing any impact on GDP.

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Malaysia’s glove products, which are widely exported to the US, will be subjected to the reciprocal tariffs.

US automakers and their global rivals were rocked on Wednesday by President Donald Trump’s announcement that he would impose 25 per cent tariffs on all vehicles and foreign-made autoparts imported into the United States.

The harshest burden fell on Asian economies, with the highest rate of 49 per cent imposed on Cambodia.

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The ringgit continued to strengthen against the US dollar at the opening, as rapid shifts in US economic policies under the Trump administration created uncertainty within the business community, potentially dampening demand.

The Central Bank of Sri Lanka held the overnight policy rate at 8%.