Malaysia-US trade talks: 10% blanket tariff expected to remain

Malaysia’s trade talks with the US may yield positive results, but the existing 10% blanket import tariff is expected to stay, according to Ministry of Investment, Trade and Industry (MITI) official Raveendran Nair.

Raveendran, who was among the MITI entourage that visited Washington DC to set up talks, shared that US Secretary of Commerce Howard Lutnick confirmed the 10% tariff would remain for all countries, despite ongoing negotiations.

“We are looking for a positive outcome, but just to indicate, the secretary of commerce did mention that most probably that 10% [blanket tariff] will remain for the entire world,” Raveendran said at a forum organised by Hong Leong Bank Bhd.