PETALING JAYA: Malaysia remains committed to continued engagement with the US on a “balanced” and “mutually beneficial” trade agreement despite the announcement by US president Donald Trump today of a 25% tariff on Malaysian goods starting Aug 1.
In a statement, the investment, trade and industry ministry acknowledged the concerns raised by Trump over trade imbalances and market access, but said unilateral measures such as tariffs were disruptive to business operations, supply chains, and investments in both Malaysia and the US.
Adding that the government remained fully committed to protecting the interests of Malaysian businesses, workers, and consumers, the ministry said Putrajaya would take “all necessary steps” to mitigate the impact of the tariff, which is higher than the 24% originally imposed.