Malaysia hopes for collaborative deal following US tariff talks

KUALA LUMPUR: Malaysia hopes the upcoming tariff negotiations with the United States (US) will result in a new cooperation arrangement, said Deputy Minister of Investment, Trade and Industry (MITI) Liew Chin Tong.

AI Brief

Tengku Zafrul is meeting US officials to negotiate relief from Trump's 24% tariffs on Malaysian goods.
He's also engaging business groups like AMCHAM and the US-ASEAN Business Council to boost trade ties.
Malaysia aims to reduce the trade deficit, remove non-tariff barriers, enhance tech security, and explore a trade deal.

MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz is currently in Washington to hold discussions with US Trade Representative (USTR) Jamieson Greer.

"Tengku Zafrul has mentioned last week (that) broadly we hope there will be a collaborative effort in shaping the new arrangement.

"But we will wait for (the outcome of) the negotiations," Liew told reporters after a panel session on 'Deciphering Malaysia's Investment Cycles' at the Sasana Symposium 2025 hosted by BNM today.

It was reported that Tengku Zafrul was scheduled to visit the US today to resume negotiations over tariffs imposed on Malaysian goods and was expected to meet Greer as well as other US government officials and investors.

Tengku Zafrul will also take the opportunity to engage with several business chambers, companies and interest groups, including the American Malaysian Chamber of Commerce (AMCHAM) and the US-ASEAN Business Council.

On April 24 this year, Tengku Zafrul led a high-level delegation to Washington, where he held talks with US Commerce Secretary Howard Lutnick and Greer.

Malaysia has expressed its readiness to negotiate in four key areas: narrowing the trade deficit, addressing non-tariff barriers, strengthening technology protection and security, and exploring the potential for a bilateral trade agreement.

On April 2, US President Donald Trump announced tariff measures affecting around 60 countries, including a 24 per cent levy on most Malaysian goods.

However, the tariffs have been temporarily suspended for 90 days -- until July 8 -- for most countries to allow room for trade negotiations.

-- BERNAMA