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MITI reaffirms commitment to fair trade amid new US tariffs
According to MITI, the efforts are ongoing and reflect Malaysia's commitment to reaching a fair and sustainable outcome for both parties. - BERNAMA/Filepic
KUALA LUMPUR: Malaysia is committed to continued engagement with the United States (US) towards a balanced, mutually beneficial, and comprehensive trade agreement, said the Ministry of Investment, Trade and Industry (MITI).
AI Brief
The ministry highlighted that Malaysia values its longstanding economic and trade relationship with the US and recognises the important role of open and fair trade in supporting jobs and economic growth in both countries.
"The Government of Malaysia takes note of the recent announcement by the US Government regarding the imposition of a reciprocal tariff rate of 25 per cent on Malaysian exports to the US, effective Aug 1, 2025.
"MITI will continue discussions with its US counterparts in good faith to address outstanding issues, clarify the scope and impact of the announced tariffs, and pursue avenues for the timely conclusion of our negotiations," it said in a statement today.
According to MITI, these efforts are ongoing and reflect Malaysia's commitment to reaching a fair and sustainable outcome for both parties.
"While we acknowledge the concerns raised by the US regarding trade imbalances and market access, we believe constructive engagement and dialogue remain the best path forward.
"Malaysia strongly believes that, together, we can find mutually acceptable solutions that safeguard the interests of both countries and peoples, while ensuring that bilateral trade and investment continue to be a positive force for sustainable economic development," it added.
The ministry also stressed that the government remains committed to protecting the interests of Malaysian businesses, workers, and consumers and will take all necessary steps to mitigate the impact of these new measures.
The US is Malaysia's second largest trading partner and largest export destination, with total trade in 2024 rising nearly 30 per cent to RM324.9 billion (US$71.4 billion).
Exports to the US reached RM198.7 billion (US$43.7 billion), while imports rose to RM126.3 billion (US$27.7 billion).
-- BERNAMA
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AI Brief
- Malaysia acknowledges the US's planned 25% tariff on its exports starting August 2025 and seeks clarification.
- MITI emphasises continued talks to resolve trade issues and reach a fair outcome for both countries.
- The government pledges to safeguard Malaysian businesses and maintain strong bilateral trade with the US.
The ministry highlighted that Malaysia values its longstanding economic and trade relationship with the US and recognises the important role of open and fair trade in supporting jobs and economic growth in both countries.
"The Government of Malaysia takes note of the recent announcement by the US Government regarding the imposition of a reciprocal tariff rate of 25 per cent on Malaysian exports to the US, effective Aug 1, 2025.
"MITI will continue discussions with its US counterparts in good faith to address outstanding issues, clarify the scope and impact of the announced tariffs, and pursue avenues for the timely conclusion of our negotiations," it said in a statement today.
According to MITI, these efforts are ongoing and reflect Malaysia's commitment to reaching a fair and sustainable outcome for both parties.
"While we acknowledge the concerns raised by the US regarding trade imbalances and market access, we believe constructive engagement and dialogue remain the best path forward.
"Malaysia strongly believes that, together, we can find mutually acceptable solutions that safeguard the interests of both countries and peoples, while ensuring that bilateral trade and investment continue to be a positive force for sustainable economic development," it added.
The ministry also stressed that the government remains committed to protecting the interests of Malaysian businesses, workers, and consumers and will take all necessary steps to mitigate the impact of these new measures.
The US is Malaysia's second largest trading partner and largest export destination, with total trade in 2024 rising nearly 30 per cent to RM324.9 billion (US$71.4 billion).
Exports to the US reached RM198.7 billion (US$43.7 billion), while imports rose to RM126.3 billion (US$27.7 billion).
-- BERNAMA