Malaysia maintains stance in tariff negotiations with US: Prime Minister

Malaysian Prime Minister Datuk Seri Anwar Ibrahim has reaffirmed Malaysia's stance on factors that may affect the country's policies, especially regarding tariff negotiations with the U.S.

PM Anwar on Monday said although Malaysia wishes to maintain trade and investment relations with the U.S., the country will still keep its core positions to protect the interests of its people, even if it is perceived as “discriminatory” by external parties.

In the coming time, Malaysia will continue a more thorough and firm approach in order to safeguard national interests, while continuing to strengthen trade relations with other countries, including China and ASEAN members, as a step to expand market access.

He said Malaysia must continue to trade and engage well with all countries, but no country should be allowed to impose conditions that pressure Malayisa.

Anwar said that his close ties with world leaders, particularly in Brazil and Egypt, have opened up strategic economic opportunities for Malaysia to strengthen its economic resilience.

Malaysia hopes to achieve a favourable outcome in tariff negotiations with the U.S. before the August 1 deadline.

Earlier, Malaysian Foreign Minister Mohamad Hasan on July 17 hoped to achieve a win-win outcome so as not to cause any harm to the good relations and trade relations between the two countries.

Accordingly, Malaysia, as a strategic partner of the U.S., does not want the tariff issue to affect bilateral relations, and will continue to negotiate for a lower tariff rate than the current proposed rate of 25%.