By Soo Wern Jun
KUALA LUMPUR, July 9 — Malaysia still has time to negotiate with the United States before a newly announced 25 per cent tariff takes effect on August 1, said Minister of Investment, Trade, and Industry Datuk Seri Tengku Zafrul Abdul Aziz.
The minister said the while the announcement was a surprise, the later implementation meant Malaysia could effectivel continue negotiation for a fair solution.
“This gives us time,” Tengku Zafrul said. “The initial 90 days (pause) ended yesterday, so we act in good faith. We want a fair and comprehensive agreement for Malaysia.”
Prior to the announcement yesterday, the US had imposed a 24-per cent tariff on Malaysian goods except those in exempt sectors.
Speaking at a press conference at the MITI headquarters today, Tengku Zafrul noted that many countries face similar trade challenges with the US.
“Today, you’ve seen many countries face similar challenges. That’s why we only see two countries that have concluded some form of agreement with the US, while the rest are still in negotiations,” he added.
He confirmed that high-level discussions are set to continue.
“Negotiations will continue. I’ve contacted our counterpart, the US Trade Representative, Jamieson Greer, and tomorrow we will have a video call with him,” Tengku Zafrul said.
“In fact, the Prime Minister (Datuk Seri Anwar Ibrahim) will be meeting the US Secretary of State, Marco Rubio, tomorrow, and I will be there.”