Malaysia Won’t Impose Retaliatory Tariffs On US
Malaysia is not considering any retaliatory tariffs against the recent 10% tariff hikes and reciprocal tariff announced by US President Donald Trump on Malaysian exports to the US.
The Investment, Trade and Industry Ministry (MITI) said to mitigate the tariff impact, the nation will expand its export markets by prioritising high-growth regions and leveraging existing free trade agreements including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, and the Regional Comprehensive Economic Partnership.
“At the same time, Malaysia will utilise the Trade and Investment Framework Agreement to seek reciprocal trade gains and pursue a Technology Safeguards Agreement with the US to facilitate high-tech cooperation in semiconductors, aerospace, and digital economy sectors,” the ministry said in a statement.
The ministry added that it is actively engaging with the US authorities to seek a holistic solution that will uphold the spirit of free and fair trade.
