Malaysia reaffirms independent trade policy amid Trump's tariff threat
In a statement, the Investment, Trade, and Industry Ministry said the country's engagement with any multilateral platform would focus on trade facilitation, sustainable development and national ideology.
ALSO READ: Trump says nations aligning with BRICS' 'anti-American policies' will face additional 10% tariff
"Our engagement with any multilateral platform is focused on trade facilitation and sustainable development, guided by national interest, not ideological alignment," it said in a statement on Monday (July 7).
Earlier, Trump posted on his social media that "Any country aligning itself with the anti-American policies of Bricks, will be charged an additional 10% tariff. There will be no exceptions to this policy,"
Miti stressed that the US remains one of Malaysia's key economic partners, not only through trade but also through the multi-billion-dollar American investments that have been established in Malaysia for over 50 years.
ALSO READ: Trump says US nears trade deals as tariff deadline delayed
The US had set a July 9 deadline for countries to agree to a trade deal, but US officials now say tariffs would begin on Aug1.
Trump said he would send letters to countries informing them of the proposed tariff rate if an agreement is not reached.
Anwar arrived in Rio de Janeiro on Saturday to attend the Brics summit hosted by Brazil at the invitation of President Luiz Inácio Lula da Silva.
Malaysia officially became a Brics partner country on Jan 1 this year.
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