A win for ‘sovereign rights'? Malaysia agrees 19% tariff deal with Trump
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After months of intense negotiations that panicked the region's export-reliant economies, Trump announced the revised rate in an executive order published late on Thursday.
Initially, leaders of the Association of Southeast Asian Nations (
Asean ) were told they would be hit with levies of between 25 and 40 per cent effective August 1.
Besides Malaysia, the revised rate of 19 per cent will apply to
Cambodia and
Thailand – which
agreed to a ceasefire after five days of deadly border skirmishes following pressure from Trump – as well as Indonesia and the Philippines.
00:51
US 'made trade deals' with Thailand, Cambodia, commerce secretary Lutnick says
US 'made trade deals' with Thailand, Cambodia, commerce secretary Lutnick says
Vietnam had earlier secured a 20 per cent rate.
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