TRUMP TARIFF: MALAYSIA TO CONTINUE NEGOTIATIONS WITH US BEFORE RATE IS FINALISED IN AUGUST
KUALA LUMPUR, July 9 (Bernama) -- The government will continue negotiations with the United States following the imposition of a 25 per cent retaliatory US tariff on Malaysian exports.
Prime Minister Datuk Seri Anwar Ibrahim said that during the negotiations, Malaysia will present its arguments to the United States before the tariff rate is finalised in August.
"We have sent teams to negotiate and explained the position that ours is a trading nation, and therefore, (the tariff) would impact the economy of this country and that of the region negatively. Of course, we must maintain our relationship with the US, but we will also defend our position that Malaysia is a trading nation, so we will request that the tariff rate be reconsidered," he told reporters today.
Anwar was speaking after officiating the 58th ASEAN Foreign Ministers’ Meeting (AMM) at the Kuala Lumpur Convention Centre (KLCC) today.
Commenting further, Anwar said he would also raise the issue of tariffs during a meeting with US Secretary of State Marco Rubio tomorrow. Rubio is scheduled to visit Malaysia this week to attend several high-level regional meetings and bilateral engagement sessions, marking his first visit to Asia since taking office earlier this year.
The United States has announced it will impose a higher 25 per cent tariff on all Malaysian products exported to the US, effective Aug 1 this year, separate from all sector-specific tariffs. This figure is one percentage point higher than the tariff previously announced in April.
In a letter to Anwar uploaded on the Truth Social account on Monday, US President Donald Trump stated that the 25 per cent figure is still far lower than what is required to eliminate the trade deficit imbalance the US is experiencing with Malaysia.
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