Malaysia seeks successful negotiations with US to lower tariffs, says Tok Mat
The Foreign Minister stated that Malaysia, which has until Aug 1 to reach an agreement, would continue to make its case for lower tariffs than those currently proposed, for the benefit of both countries.
"Malaysia is a strategic partner to both the US and many other nations.
"We are still talking about lowering the proposed tariffs, and we do not want this to affect the good bilateral ties that we currently enjoy," he told reporters after presenting financial aid to poor families and students in Rantau near here on Thursday (July 17).
Mohamad expressed hope that an agreement could be reached between the two sides that would be mutually beneficial.
"We need to ensure that we are able to preserve the good ties we have for the future," he said.
Mohamad was asked to comment on the US's decision to lower tariffs on exports from Vietnam and Indonesia to 20% and 19% respectively. Vietnam was initially slapped with a 46% tariff, and Indonesia, 32%.
Malaysia, which was slapped with a 24% rate in April, had this increased to 25% despite initial talks between representatives of both countries.
Mohamad said that although the US had announced a lower tariff of 19% for Indonesia, this was made unilaterally by President Donald Trump.
"I understand that talks between them are still ongoing and that Indonesia will issue their own statement," he said.
Mohamad said talks to lower tariffs should not be centred on trade aspects alone.
"The scope has to be expanded and should not only focus on trade but on sovereignty and related issues," he said.
On Wednesday (July 16), Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said Malaysians should be realistic in their expectations regarding tariff talks with the US, as there are certain issues that Putrajaya would never compromise on.
Mohamad said Asean has a shared policy of inclusiveness, so any effort to divide member countries would be seen as unhealthy.
"We hope the negotiations (between the US and other nations) will not reach a point of dividing us or lead to problems in bilateral relations," he added.
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