Malaysia said it would continue to cooperate with the US after President Donald Trump threatened to store a steeper customs rate if the Southeast Asian nation does not reach an agreement with his administration.
Trump said Malaysia would face a fee of 25%, more than 24% announced in April.
Malaysia will continue discussions with the United States to deal with outstanding questions, clarify the scope and impact of announced tariffs, and chase trips for early negotiations, the Ministry of Investment, Trade and Industry said. Efforts are underway and reflects the willingness of the Asian nation to achieve a “fair and sustainable outcome” for both countries, he added.
“Malaysia has committed itself to continuing to involve the US on a balanced, mutually beneficial and comprehensive trade agreement,” the ministry said on Tuesday.
On Monday, Trump introduced the first in a wave of promised letters that threatened to save higher tariffs on key business partners, but suggested that he was still open to further negotiations and threw growing duties until August 1. Malaysia was initially affected with 24% reciprocal Nova in April in April before Trump announced a 90 -day diversion, which was based on 10% on the basis of goods on the basis of goods.
The Malaysian benchmark index fell by up to 0.7%, while Ringgit changed little in the late morning shop.
Investment, trade and Minister of Industry, before, said Malaysia focused on reducing US tariffs to less than 10% for sectors critical for both economies. Meanwhile, Trump’s administration wanted the country to deal with business imbalances, non -tariff barriers and protect American technology from leading other parties.
US fees are expected to weigh the Malaysian economy, and government predictions plan to reduce their 4.5% to 5.5% estimate of growth. He previously warned that tariffs would have an impact on the economy for the coming years.
According to the US Sales Representative Office last year, the US with Malaysia with Malaysia led to the deficit of Malaysia trade of $ 24.8 billion. Last year, the US was also the largest foreign investor in Malaysia.
“Malaysia is considered to be unilateral measures as a potentially disturbing business operation, supply chains and investment flows that benefit both countries,” the ministry said.
This article was generated from an automated news agency without text modifications.
(Tagstotranslate) Malaysia
