TARIFF: POSITIVE RESPONSE FROM US TO MALAYSIA'S APPROACH - AMIR HAMZAH
KUALA LUMPUR, July 1 (Bernama) -- The United States (US) has responded positively to Malaysia's approach and engagements on tariff issues and proposals, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said Malaysia’s proactive engagement and approach with the US is to understand the issues involved and to work together to navigate a path to find a win-win situation.
The US responded positively to Malaysia's approach. Trade teams from both sides discussed how to navigate forward, he said.
"The two teams held (productive) discussions and negotiations; progress is being made along those lines," he said during a fireside chat at the Invest ASEAN-Malaysia Conference 2025 moderated by Bursa Malaysia chief executive officer Datuk Fad'l Mohamed today.
According to Amir Hamzah, Malaysia has always been non-retaliatory. It wants to work with the US to seek ways to improve trade for both sides.
He noted that the trade deficit between Malaysia and the US comprised key components such as the electronics and semiconductor industries.
He said many US-based multinationals are exporting to the US, and Malaysia was pleased when the US suspended tariffs for the semiconductor sector. It recognised that this was a critical asset that they wanted to protect.
"But for Malaysia, it was important because it shows there is a lot of cross dependency between Malaysia and the US," he said.
The minister also noted that Malaysia highlighted to the US in the negotiations that global supply chains are integrally linked and are difficult to decouple without significant consequences.
-- BERNAMA
