US tariff cut signals global trust in Malaysia, says Nga
The Housing and Local Government Minister described the revised tariff rate as a testament to Malaysia's credibility as a reliable economic partner and its effective diplomatic engagement.
'We are grateful for this positive development. It sends a strong signal of trust in Malaysia's economic governance, policy reforms and commitment to fair and rules-based trade.
'The 19% rate achieved without compromising our national sovereignty underscores Malaysia's maturity in international negotiations,' he said in a statement yesterday.
Nga, who is president of the UN-Habitat Assembly – which sets policy direction on Sustainable Urban Development and Human Settlements, credited the sustained bilateral negotiations led by the Investment, Trade and Industry Ministry under the guidance of Prime Minister Datuk Seri Anwar Ibrahim.
He said progressive trade developments would have a positive impact across sectors, particularly construction and manufacturing.
Nga said Malaysia's export of furniture, lighting signs and prefabricated building materials to the United States was valued at US$1.55bil (about RM7bil) in 2024.
'Lower tariffs can enable greater access to quality construction material and technologies at competitive prices, supporting our goal to build smarter, greener and more liveable homes and cities,' he said.
Nga also welcomed the planned visit of US President Donald Trump to Kuala Lumpur in October for the 47th Asean Summit, as announced by Anwar on Thursday.
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