Malaysia seeks lower tariff rates for key sectors in US talks on June 18 -Tengku Zafrul
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the talks aim to secure fairer terms for Malaysian exporters affected by the new baseline tariff announced by the US administration.
'The US currently imposes a 24 per cent tariff on certain Malaysian exports. And of course, our first target is to reduce that rate. The second is to identify sectors that should ideally be subject to tariffs below 10 per cent.
'We need to consider sectors that are important to Malaysian exporters and also crucial to the US economy,' he told a press conference after launching the ASEAN Economic Community (AEC) Strategic Plan 2026–2030, here today.
However, the specific sectors under negotiation were not disclosed.
In April 2025, the US government announced new tariff measures affecting more than 60 countries, including Malaysia. The implementation of these tariffs has been temporarily paused for 90 days to allow room for negotiations.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
24 minutes ago
- New Straits Times
JS Solar signs underwriting deal with TA Securities for IPO
KUALA LUMPUR: JS Solar Holding Bhd has inked an underwriting agreement with TA Securities Holdings Bhd in conjunction with its upcoming initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia. JS Solar is expected to be listed by the third quarter of 2025. The solar photovoltaic (PV) system company said in a statement that the IPO exercise entails a public issue of 78 million new ordinary shares, representing 24 per cent of the group's enlarged issued share capital, along an offer for sale of 19.5 million existing shares, representing 6.0 per cent of the enlarged issued share capital. "Of the 78 million issue shares, 16.25 million will be made available to the Malaysian public via balloting; and 19.5 million issue shares to eligible directors, employees and other persons who have contributed to the success of the group (pink form allocation). "The remaining 42.25 million issue shares will be made available by way of private placement to selected investors," it said. The 19.5 million offer shares will be made available by way of private placement to selected investors, it added. Pursuant to the underwriting agreement, TA Securities has agreed to underwrite a total of 35.75 million issue shares made available to the Malaysian public and pink form allocation. JS Solar, through its subsidiaries, principally provides engineering, procurement, construction and commissioning (EPCC) services and contracting services for solar PV systems, along with operations and maintenance (O&M) services. Its managing director Johnson Chai Jeun Sian said the signing of the underwriting agreement with TA Securities brings them one step closer to their upcoming listing on the ACE Market. "The funds raised through our IPO will be channelled towards strengthening our position in Malaysia's solar PV industry. "We are also actively exploring opportunities to integrate Battery Energy Storage Systems (BESS) into our EPCC offerings to meet the growing demand for reliable and stable renewable energy solutions, supporting our long-term growth and contribute to Malaysia's broader energy transition agenda," he said. TA Securities serves as the principal adviser, sponsor, underwriter and placement agent, while Eco Asia Capital Advisory Sdn Bhd serves as the financial adviser for the IPO exercise.
Malay Mail
an hour ago
- Malay Mail
EPF posts RM38.92b investment income in first half of 2025, up 3pc
KUALA LUMPUR, Aug 14 — The Employees Provident Fund (EPF) recorded a total investment income of RM38.92 billion for the first half ended June 30, 2025, a three per cent increase from RM37.90 billion in the same period last year. The total investment income included a RM0.44 billion mark-to-market gain on securities that have not been realised, mainly due to foreign exchange rate fluctuations. In line with the EPF's policy, this gain will not be distributable as dividends, the fund said in a statement today. — Bernama
The Sun
an hour ago
- The Sun
Malaysia proposes ASEAN monitoring team for Thailand-Cambodia conflict
PUTRAJAYA: Chief of Defence Force Gen Tan Sri Mohd Nizam Jaffar has requested Prime Minister Datuk Seri Anwar Ibrahim to engage with Thai and Cambodian leaders for Malaysian teams to join the ASEAN Observer Team (AOT) in conflict zones. The AOT includes representatives from ASEAN nations and will monitor compliance with the ceasefire agreement along the 840-kilometre border. Mohd Nizam stated that logistical support for the mission is being provided by the United States. He spoke after his induction into the Hall of Fame of the National Resilience College (MKN) in Putrajaya. Following the General Border Committee (GBC) meeting, an Interim Observer Team (IOT) was formed, consisting of ASEAN defence attachés. The IOT is led by Malaysia's Defence Advisers in Bangkok and Phnom Penh. The team will first brief 75 Thai senior officers in Bangkok on necessary measures before conducting similar sessions in Phnom Penh. Their primary role is to ensure ceasefire adherence and investigate reported violations. Thailand and Cambodia have agreed to maintain current troop positions and avoid military escalation. Separately, Mohd Nizam addressed the death of a PALAPES trainee at Universiti Teknologi Malaysia (UTM) Skudai, confirming a completed inquiry and post-mortem. He clarified that the incident occurred during a battle inoculation exercise and denied any bullying or ragging involvement. Mohd Nizam emphasised the Armed Forces' commitment to eradicating bullying, focusing instead on rigorous training. The mother of the late trainee, Syamsul Haris Shamsudin, has requested a second post-mortem to determine the cause of death. - Bernama
