Kuala Lumpur (VNA) – Malaysia is pushing forward tariff negotiations with the US, while implementing various policies to support local industries and strengthening efforts to seek new export markets.
The country is set to begin reciprocal tariff negotiations with the US on May 6, with the main objective of ensuring that no tariffs are imposed on the country, especially in key sectors, said the Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.
He said the negotiations will be held virtually, led by Deputy Secretary-General (trade) MITI, Mastura Ahmad Mustafa as Malaysia’s chief negotiator, alongside the Assistant US Trade Representative for Southeast Asia and the Pacific, Sarah Ellerman.
He noted that the initial discussions aim to determine the scope and technical issues that need to be addressed to reach a mutually beneficial outcome.
On April 24, Tengku Zafrul led a high-level delegation to Washington for talks with US Secretary of Commerce Howard Lutnick and US Trade Representative Jamieson Greer.
The meeting emphasised the importance of continuous dialogue and Malaysia’s readiness to find constructive solutions to issues raised by the US, including trade imbalance, non-tariff barriers, technology safeguarding, and investment-related issues.
In addition to its 25 billion USD trade deficit with Malaysia, the US also raised concerns over several non-tariff barriers, he added.
Minister Zafrul emphasised that the Malaysian government will address tariff issues prudently and base its decisions on the realities of the situation. He reiterated Malaysia’s commitment to strengthening trade ties with other partners and affirmed that, despite the challenge posed by potential reciprocal US tariffs, the government remains proactive in safeguarding the nation’s economy./.
