Malaysia-US Tariff Talks Went Well, Says PM Anwar
BUSINESS
KUALA LUMPUR, June 19 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim said discussions between Malaysia and the United States (US) on the imposition of US unilateral tariffs went smoothly.
Anwar, who is also the finance minister, said he was informed of the positive progress earlier today by Investment, Trade and Industry (MITI) Minister Tengku Datuk Seri Zafrul Abdul Aziz and Finance Minister II Datuk Seri Amir Hamzah Azizan, who are currently in the United States.
'This morning, I received a message from the MITI minister and the finance minister that their meeting with the US Secretary of Commerce, who has been extremely busy, (went) excellently,' he said in his keynote address at the 38th Asia-Pacific Roundtable: Recalibrating Asia's Frontiers, here today.
The prime minister stressed that Malaysia has consistently relied on sound reasoning and principles to pursue what is fair and just, and he urged fellow ASEAN member states to adopt a similar approach.
Tengku Zafrul arrived in the United States on Tuesday to initiate discussions on US reciprocal tariffs, ahead of the July 8 expiry of a temporary 90-day suspension. Malaysia currently faces a 24 per cent tariff on selected exports to the United States. The trade minister said his delegation's priority is to negotiate improved market access and address supply chain-related challenges.
Meanwhile, Anwar said international trade must be governed by transparent rules and legal predictability, not by unilateralism or coercive economic measures. 'Disruptions in trade and supply chain will only leave detrimental effects on businesses and hamper economic growth, further impacting efforts towards ensuring the socioeconomic well-being of the people,' he added.
He noted that the imposition of unilateral tariffs by the United States is a significant challenge to Malaysia and the region, as they are deeply plugged into global supply chains.
'Malaysia will continue to engage constructively with the United States, China, the European Union, India, and others in advancing our national interests. And let there be no doubt that Malaysia's strategy of active non-alignment is a deliberate and principled framework, designed to maximise strategic flexibility, preserve decision-making autonomy, and engage all partners on our terms,' he reiterated.
Anwar said Malaysia looks forward to collaborating as a partner country of BRICS and finding new avenues of 'niche area' cooperation in the grouping. The recent reinvigoration of BRICS to include members and partner countries from the Middle East, Southeast Asia, Central Asia, Africa, and South America is the very essence of bridging regions, he added.
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