Malaysia has expressed its readiness to negotiate in four key areas: addressing the US’s reported 24.8 billion USD trade deficit with Malaysia, removing non-tariff barriers, strengthening protections for technology and national security, and exploring the possibility of a bilateral trade agreement.
Malaysia’s Ministry of Investment, Trade and Industry (MITI) said Minister Tengku Zafrul Aziz is scheduled to travel to Washington on June 18 for a new round of discussions focused on tariffs.
The MITI Minister said he is expected to meet with US Trade Representative Jamieson Greer and other senior American officials during the visit.
He will also hold meetings with business groups, including the American Malaysian Chamber of Commerce and the US-ASEAN Business Council.
The US has been Malaysia’s third-largest trading partner since 2015, with total bilateral trade reaching 80.2 billion USD in 2024.
However, growing global trade tensions are threatening to weigh on economic growth. Malaysia’s central bank recently cut its 2025 growth forecast from 5.5% to 4.5%, echoed by the World Bank, which in its latest regional outlook revised Malaysia’s 2025 growth projection down to 3.9%, from 4.5% in October 2024.
These developments followed US President Donald Trump's announcement in April of new reciprocal tariffs on most countries. The tariffs have been suspended for 90 days to allow room for negotiations.
Tengku Zafrul previously led a high-level delegation to Washington in late April. Malaysia has expressed its readiness to negotiate in four key areas: addressing the US’s reported 24.8 billion USD trade deficit with Malaysia, removing non-tariff barriers, strengthening protections for technology and national security, and exploring the possibility of a bilateral trade agreement.
Under President Trump’s announcement, Malaysia faces a 24% tariff — lower than those imposed on neighbouring countries such as Thailand (36%) and Indonesia (32%)./.
Source: Vietnam+
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<p>Time: 2024 By: Ministry of Industry and Trade</p>
