Tariff deal shows Malaysia is a trusted partner, says Tengku Zafrul
"This decision by the US reflects the strong and enduring economic ties between our two nations," he said in a statement today. "It is also a testament to Malaysia's credibility as a reliable trade and investment partner."
Tengku Zafrul said the tariff outcome followed Malaysia's consistent and methodical negotiating approach, which safeguarded the country's right to pursue domestic policies while securing a tariff rate that is in line with regional benchmarks.
The 19 per cent tariff, down from the previously imposed 25 per cent, will come into effect on Aug 7, after bilateral negotiations concluded on July 31.
Talks between both governments began on May 6, and involved multiple platforms of engagement, according to the Investment, Trade and Industry Ministry (MITI).
MITI said Malaysia stood firm on several "red line" issues to ensure the agreement did not compromise its socio-economic development agenda.
The ministry also expressed appreciation to Prime Minister Datuk Seri Anwar Ibrahim, the Prime Minister's Office, and key ministries and agencies for their roles in the negotiation process.
Other parties involved included the American Malaysian Chamber of Commerce, the US-Asean Business Council, think tanks and industry representatives.
The US is Malaysia's largest export market, with trade valued at RM198.65 billion and its largest source of foreign direct investment, with RM32.82 billion in approved investments recorded in 2024.
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