Tariffs: MITI Committed To Finding Best Solution For Malaysia -- Tengku Zafrul

KUALA LUMPUR, April 23 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI) is committed to seeking the best solution regarding retaliatory tariffs for mutual benefit, said its Minister Tengku Datuk Seri Zafrul Abdul Aziz, who is currently in Washington, United States of America (US).

“Before meeting with senior US government officials, I held discussions with the MITI team here. We reviewed strategies and recent efforts to strengthen Malaysia-US trade relations,” he said in a social media post.

“We are committed to finding the best solution for our shared interests,” he added during his two-day visit to the US capital.

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The minister is scheduled to meet with US Trade Representative Jamieson Greer and other relevant officials in Washington on April 24.

In a recent media briefing, Tengku Zafrul said the Malaysian delegation would also take the opportunity to meet with several business chambers, companies, and interest groups to explain the country’s stand on the tariff issue, as well as the feedback received from the Cabinet.

“We need to be there to clarify how Malaysia, as a neutral country, plays a key role in the semiconductor and electrical and electronics sectors. Our goal is to demonstrate that Malaysia supports industries in the US rather than posing a threat to them,” he explained.

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Tengku Zafrul will be accompanied by MITI deputy secretary-general (trade) Mastura Ahmad Mustafa, along with other ministry officials.

MITI representatives at the Malaysian Embassy in Washington will also join the delegation.

During a media briefing last week, Tengku Zafrul said that although the visit is focused on Malaysia, he will take the opportunity to express ASEAN’s stance on the tariff issue, particularly the outcomes of the recent special meeting of ASEAN Economic Ministers.

The Indochina ASEAN member countries have been the hardest hit by these tariffs, with Cambodia facing a combined base and retaliatory tariff rate of 49 per cent, followed by Laos (48 per cent), Vietnam (46 per cent), and Myanmar (44 per cent).

Thailand faces a 36 per cent tariff, Indonesia 32 per cent, Brunei and Malaysia both at 24 per cent, the Philippines 17 per cent, and Singapore has a base tariff of 10 per cent.

Except for China, these retaliatory tariffs are under a 90-day suspension period.

In another separate post titled “Seeking a Fair and Equitable Trade Solution”, Tengku Zafrul said he also held productive discussions in Washington with US Ambassador (APEC senior official) Matt Murray.

“Malaysia comes as a constructive partner, not only in bilateral contexts but also as ASEAN chair in 2025 and a committed APEC member. We appreciate the openness of the US to listen and its readiness to continue structured discussions for our mutual benefit,” Tengku Zafrul added.

Malaysia is one of the 21 member economies of the Asia-Pacific Economic Cooperation (APEC).

-- BERNAMA