Trump tariffs: Three key areas in focus for Malaysia-US talks – Tengku Zafrul

KUALA LUMPUR: Tariff reduction, non-tariff barriers (NTBs) and trade imbalances are the three main areas of focus in ongoing trade talks between Malaysia and the United States.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the U.S. has agreed to formally begin negotiations with Malaysia, though discussions are still at a preliminary stage.

“We’ve not delved into details yet. We’re speaking at a broader parameter level,” he said.

“The first step was to determine whether the U.S. was open to negotiations. The good news is, they are.”

Following recent meetings with the U.S. Trade Representative (USTR) and the Commerce Secretary in Washington, Tengku Zafrul said both sides agreed to move forward.

“Our objective is to reduce tariffs – ideally to zero – but of course, we need a win-win outcome,” he said at a Hari Raya gathering hosted by MITI and its agencies.

Tengku Zafrul also noted that the U.S. had agreed to enhance enforcement of technology regulations and intellectual property rights protections.

Malaysia will be represented in the talks by MITI Deputy Secretary-General (Trade) Mastura Ahmad Mustafa, while the U.S. will be represented by an Assistant U.S. Trade Representative.

Further details from the MITI delegation’s trip to Washington last week will be presented at the National Geoeconomic Action Council (NGCC) meeting chaired by Prime Minister Anwar Ibrahim on Wednesday.

Commenting on concerns over a potential flood of Chinese goods in the local market, Tengku Zafrul said investigations are underway, and legal action will be taken if the claims are substantiated.