Malaysia's semiconductor and pharma sectors exempt from US tariff
Describing the decision as a win-win outcome, Tengku Zafrul noted that the US is still reviewing its trade laws to assess the fairness of the zero-tariff policy on these sectors.
'The timeline for the review is December this year, though it could be earlier,' he said during a press conference.
The US had previously imposed a 19 per cent tariff on Malaysian exports, but the exemption for semiconductors and pharmaceuticals reflects strong bilateral ties. 'This is a positive development for both Malaysia and the US,' Tengku Zafrul added.
In return, Malaysia will apply a zero per cent tariff on 6,911 US imports, covering 191 agricultural and 1,347 industrial products.
This accounts for 61 per cent of the 11,260 tariff lines requested by the US. - Bernama
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