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Malaysia, Singapore step up talks following US’s new tariffs

Malaysian Prime Minister Anwar Ibrahim said July 24 that his Government will continue talks with the US over the new tariff linked to forced labour concerns if current negotiations fail to produce a satisfactory outcome.

In Singapore (Photo: Xinhua/VNA)
In Singapore (Photo: Xinhua/VNA)

Singapore (VNA) – Many countries are racing to negotiate exemptions after the US announced a new round of tariffs ranging from 10-12.5% on imports from 60 economies, seeking to shield their exporters from the impact.

The new rates took effect on 00:01 (eastern US time) on July 24 when the temporary 10% tariffs President Donald Trump had imposed on global trading partners expire.

Malaysian Prime Minister Anwar Ibrahim said July 24 that his Government will continue talks with the US over the new tariff linked to forced labour concerns if current negotiations fail to produce a satisfactory outcome.

The Singaporean Ministry of Trade and Industry said the same day that it will keep working with the international community to address the issue, adding that it will continue engaging the Office of the US Trade Representative to explore possible solutions.

Under the new tariff regime, Singapore’s exports to the US will face a 12.5% levy./.

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VNA
#President Donald Trump #Malaysia #Singapore #US tariffs #Office of the US Trade Representative Malaysia Singapore
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