US responds positively to Malaysia's tariff proposals — Amir Hamzah
He said semiconductors account for a substantial portion of Malaysia's US$84 billion trade deficit with the US, noting that Washington recently suspended any adverse actions targeting the sector, a crucial development for both economies.
"This reflects the recognition of how deeply interconnected Malaysia and the US are in the global supply chain," he said during a fireside chat at the Invest Asean-Malaysia Conference 2025 held here today.
"Decoupling these industries would lead to significant consequences for both sides, making cooperation the more viable path forward."
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Amir Hamzah said Malaysia's proactive engagement with the US on tariffs is showing promising signs of progress, with both countries making headway in negotiations to mitigate trade tensions.
He added that Malaysia's strategy has been to focus on mutual benefits rather than retaliation, with the government seeking to address tariff barriers through targeted discussions.
"Our approach is to understand the issues at hand and navigate a win-win solution. This means identifying key sectors impacted by tariffs and finding ways to minimise disruptions," he said.
Amir Hamzah shared that sectors under discussion include agriculture, gloves, solar panels and furniture — areas where Malaysia is exploring improved market access and reduced tariff barriers to benefit both nations.
While tariffs have been a primary focus, Malaysia has also raised concerns about non-tariff barriers.
Amir Hamzah said the US has sought greater access to the Malaysian market in various areas, and Malaysia is open to discussions that respect its domestic regulations and labour standards.
"Where there is hope to open up opportunities, we are willing to explore. Any liberalisation must, however, be based on outcomes that benefit both sides," he added.
The ongoing trade discussions have involved dedicated teams from both countries, with substantial progress reported.
These negotiations aim to balance Malaysia's need to protect its industries and workers while addressing US concerns about fair access to Malaysian markets.
"The feedback from our US counterparts has been positive, and we're confident that we can continue to build on this momentum," Amir Hamzah said.
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