Malaysia maintains national interests in US trade negotiations
Minister of Investment, Trade, and Industry Tengku Datuk Seri Zafrul Abdul Aziz clarified that the country did not compromise its policies for preferential treatment.
'The United States grants Malaysia equivalent rates due to our importance as a major trading partner and our ability to offer high-quality trade and investment commitments, even without full sectoral liberalisation,' he said during a Dewan Rakyat briefing.
Tengku Zafrul highlighted that the new tariff rate of 19 per cent, a six-point reduction from the initial July 2025 announcement, reflects Malaysia's strong position in global trade. 'This proves developing nations can engage internationally without surrendering to extreme liberalisation pressures,' he added.
The minister noted that Malaysia and the US are finalising a joint statement outlining negotiated outcomes and mutual commitments. Discussions on a Reciprocal Trade Agreement will continue to ensure implementation.
The US remains Malaysia's top export destination (RM198.65 billion in 2024) and a key foreign investor (RM32.82 billion). - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysiakini
4 minutes ago
- Malaysiakini
Speaker's decision not subject to judicial scrutiny, appellate court rules
Decisions made by the Dewan Rakyat speaker are not subject to judicial scrutiny, the Court of Appeal has ruled today in dismissing Bersatu's second attempt to initiate judicial review against Johari Abdul. Bersatu's lawyer Chetan Jethwani confirmed to Malaysiakini that the appellate court's decision was based on Article 63(1) of the Federal Constitution.
The Sun
4 minutes ago
- The Sun
RMR loan repayments surge 57% to RM117 million in 2025
KUALA LUMPUR: Loan repayments under the Rumah Mesra Rakyat (RMR) programme have surged by 57 per cent, reaching RM117 million as of June 30, 2025. Deputy Housing and Local Government Minister Datuk Aiman Athirah Sabu highlighted the significant improvement, up from RM74.94 million collected in the same period last year. 'This RM42.51 million increase demonstrates the effectiveness of Syarikat Perumahan Negara Berhad's (SPNB) collection system and borrowers' growing commitment to fulfilling their obligations,' she said during a Dewan Rakyat special chamber session. The figures reflect sustained public trust in the nationwide affordable housing initiative. Aiman was responding to Aminolhuda Hassan (PH-Sri Gading), who inquired about RMR's 2025 repayment performance and SPNB's recovery rate. She noted that nearly all states recorded positive growth, with Kelantan leading at RM19.92 million (75 per cent increase), followed by Terengganu (RM15.65 million, up 66 per cent), Kedah (RM11.99 million, up 76 per cent), and Negeri Sembilan (RM9.02 million, up 78 per cent). From 2022 to June 2025, SPNB received 186,315 RMR applications nationwide, approving 73,280. Of these, 72,509 homes were completed, while 771 remain under construction. A total of 30,262 applications (16.2 per cent) were rejected for failing eligibility criteria, with 13,177 eligible applicants awaiting processing. Another 69,596 applications are under review. To further improve RMR's impact, SPNB is exploring partnerships with government and private agencies. 'Collaborative efforts will enhance programme delivery and accessibility,' Aiman added. - Bernama
The Star
34 minutes ago
- The Star
Ringgit strengthens on weak US jobs report
KUALA LUMPUR: The ringgit closed stronger against the US dollar on Monday following a softer-than-expected United States (US) jobs report that significantly altered market expectations on the Federal Reserve (Fed) policy, said an analyst. At 6 pm, the local note rose to 4.2350/2385 versus the US dollar from Friday's close of 4.2750/2815. SPI Asset Management managing director Stephen Innes said that last Friday's nonfarm payrolls data showed a marked slowdown in US job creation, prompting traders to sharply increase bets on monetary easing. "Market-implied expectations for Fed rate cuts this year jumped to 64 basis points, up from 33 basis points prior to the release. The probability of a September rate cut surged above 90 per cent, while October is now fully priced for the first move," he told Bernama. Innes said the shift triggered a widespread sell-off in the US dollar and US government bonds, boosting demand for emerging market currencies including the ringgit, as sentiment pivoted towards a more dovish Fed outlook. Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the ringgit is likely to exhibit a positive trend as Bank Negara Malaysia is expected to maintain its current overnight policy rate (OPR) stance. "This would mean that the interest differentials between the Fed Fund Rate and the OPR would narrow in the months to come,' he said. Meanwhile, at the close, the ringgit ended lower against major currencies. It fell against the Japanese yen to 2.8652/8677 from 2.8407/8452 at the close on Friday, depreciated versus the British pound to 5.6296/6342 from 5.6208/6293, and declined against the euro to 4.8978/9018 from 4.8752/8826 previously. The ringgit was mixed against regional peers. It improved against the Singapore dollar to 3.2878/2908 from 3.2907/2960 and edged higher against the Indonesian rupiah to 258.2/258.5 from 258.8/259.4 at Friday's closing. However, it inched down versus the Thai baht to 13.0452/0616 from 13.0058/0319 and weakened against the Philippine peso to 7.38/7.39 from 7.35/7.36 previously. - Bernama
