Malaysia seeks urgent trade talks with US after 25% tariff blow
On Monday, Trump revealed he had sent letters to leaders of 14 countries announcing tariffs ranging from 25 to 40 per cent, in
an apparent gambit to accelerate trade negotiations.
The new 25 per cent tariff on Malaysian goods is one percentage point higher than the rate first outlined by the mercurial US leader when he first revealed his 'Liberation Day' levies on April 2.
In a statement on Tuesday, Malaysia's Ministry of Investment, Trade and Industry (MITI) said the country was committed to 'continued engagement with the US towards a balanced, mutually beneficial and comprehensive trade agreement'.
Shipping containers are seen stacked at Port Klang, Malaysia's biggest and busiest port. Photo: AP
'Specifically, MITI will continue discussions with its US counterparts in good faith to address outstanding issues, clarify the scope and impact of the announced tariffs, and pursue avenues for the timely conclusion of our negotiations,' it said.
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