[UPDATED] Anwar: Malaysia-US tariff talks progressing well

New Straits Times

6 hours ago

KUALA LUMPUR: Discussions with the United States (US) on reciprocal tariffs, ahead of the expiry of its temporary exemption on July 8, are progressing well, said Prime Minister Datuk Seri Anwar Ibrahim.
He said he was informed of the update from the meeting by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz and Finance Minister II Datuk Seri Amir Hamzah Azizan.
Anwar said that during the meeting, Malaysia emphasised not only the need to secure a fair outcome for itself, but also the importance of consistently presenting Asean's position.
"This morning, I received a message from the ministers (Tengku Zafrul and Amir Hamzah) that the meeting with the US Secretary of Commerce and state representatives went very well.
"We have always stressed the importance of securing what is fair for Malaysia, but also of presenting the case for Asean.
"I urge my colleagues in Asean to do the same, which is to present their respective bilateral positions while also emphasising the importance of Asean remaining a cohesive and effective bloc," he said in his keynote address at the 38th Asia Pacific Roundtable.
Anwar added that the imposition of unilateral tariffs poses a significant challenge to both Malaysia and the region, given their deep integration into global supply chains.
Anwar said that 60 per cent of Malaysia's semiconductor and electrical and electronic (E&E) products are exported to the US.
On this note, he stressed that international trade must be governed by transparent rules and legal predictability, not by unilateralism or coercive economic measures.
"Disruptions in trade and supply chains will only have detrimental effects on businesses and hamper economic growth, further impacting efforts to ensure the socio-economic wellbeing of the people," he said.
Anwar said Malaysia would continue to engage constructively with the United States, China, the European Union, India, and other partners in advancing its national interests.
"And let there be no doubt: 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 own terms.
"Over the past two years, Malaysia has reached out to like-minded partners in the Global South to bridge regions, build collective resolve and promote shared prosperity.
"Our focus is clear, pragmatic, coordinated and action-oriented cooperation. It is in this spirit that we have revitalised our pursuit of greater inter-regional connectivity and collaboration," he said.
He added that the recent reinvigoration of BRICS to include members and partner countries from the Middle East, Southeast Asia, Central Asia, Africa, and South America represents the very essence of bridging regions.
Malaysia, he said, looks forward to collaborating as a partner country and exploring new avenues for niche-area cooperation.
"Contrary to reductionist perspectives on why several Southeast Asian countries are engaging with BRICS, it is neither about taking sides nor turning away from the West.
"It is a manifestation of agency, autonomy, and trust in sustained cooperation to address shared challenges," he said.