Malaysia reaffirms fair trade commitment amid new US tariffs
The ministry emphasised the importance of constructive dialogue to resolve trade imbalances while safeguarding bilateral economic interests.
MITI stated that Malaysia values its longstanding trade partnership with the US, its second-largest trading partner and top export destination. Total trade between the two nations surged nearly 30% in 2024, reaching RM324.9 billion (US$71.4 billion).
Exports to the US accounted for RM198.7 billion (US$43.7 billion), while imports stood at RM126.3 billion (US$27.7 billion).
'The Government of Malaysia takes note of the recent announcement by the US Government regarding the imposition of a reciprocal tariff rate of 25 per cent on Malaysian exports to the US, effective Aug 1, 2025,' MITI said in a statement.
The ministry pledged to engage US counterparts to clarify the tariffs' scope and mitigate their impact on local businesses and workers. - Bernama
Malaysia remains optimistic about reaching a mutually beneficial agreement. 'We believe constructive engagement and dialogue remain the best path forward,' MITI added.
The ministry assured stakeholders that it would take necessary steps to protect Malaysia's trade interests while promoting sustainable economic growth.
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