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AsiaOne
21 hours ago
- Business
- AsiaOne
Trump defers announcement of tariff rate on Malaysian goods to Aug 1, will attend Asean Summit in Oct: Anwar , Malaysia News
The United States' tariff rate on Malaysian goods will be announced on Friday (Aug 1), Malaysian Prime Minister Anwar Ibrahim said on Thursday (Jul 30) after speaking to US President Donald Trump. "After the discussion and some clarifications that I made, he (Trump) decided to postpone the announcement of the tariff rate to tomorrow," said the Malaysian prime minister, adding that the call took place at 6.50am on Thursday morning. Anwar said that he had discussed the principles and spirit of free trade with Trump and that negotiations are ongoing between the Ministry of Investment, Trade and Industry, and the US' trade representative and commerce secretary. These updates were shared by Anwar in Parliament on Thursday as he tabled the 13th Malaysia Plan, which outlines government spending on the country's development for the next five years until 2030. Malaysia is facing a 25 per cent tariff rate on its exports to the US, but The Straits Times reported official sources as saying that a deal to lower the tariff to a maximum of 20 per cent or as low as 15 per cent should be announced by Aug 1. On Jul 7, the White House announced that Trump had signed an executive order determining that certain tariff rates, which were initially set to expire on Jul 9, will expire on Aug 1 (Friday). Since then, the Trump administration has struck deals with several other Asean countries, including Indonesia, the Philippines and Vietnam. Anwar shared that Trump had praised Malaysia for its effective and positive role in brokering the Thailand-Cambodia ceasefire. He added that Trump confirmed his attendance for the upcoming Association of Southeast Asian Nations (Asean) Summit that will be held in Malaysia from Oct 26 to 28. [[nid:719999]] editor@
New Straits Times
a day ago
- Business
- New Straits Times
MITI continues to strengthen state-level initiatives under NSS
KUALA LUMPUR: The Ministry of Investment, Trade and Industry (MITI) will continue to strengthen state-level initiatives that align with national aspirations and provide a conducive environment for their implementation under the National Semiconductor Strategy (NSS). Minister Tengku Datuk Seri Zafrul Abdul Aziz said MITI recognises and supports talent development initiatives implemented by state governments to complement national efforts in strengthening the country's semiconductor ecosystem. "One of the best examples is the effort spearheaded by the Selangor Information Technology and Digital Economy Corporation (SIDEC), through the establishment of the Malaysia Advanced Semiconductor Academy and the implementation of a global semiconductor exchange programme. "This initiative will be standardised and integrated strategically into the talent development framework under the NSS, especially in the human capital development thrust which is the backbone of the semiconductor industry's growth," he said during the Minister's Question Time in the Dewan Rakyat today. He said this in response to a supplementary question from Datuk Seri Amirudin Shari (PH-Gombak), who asked the minister to outline the federal and state governments' efforts to meet the target of training or securing up to 60,000 engineers under the NSS. Tengku Zafrul also called on the Selangor state government to collaborate with existing national talent development programmes. "This approach is in line with the national target to address the shortage of engineers and highly skilled professionals across the semiconductor value chain. "MITI is also committed to building a more collaborative and inclusive ecosystem involving state governments, industry players, and institutions of higher learning. This is to ensure that talent development in the semiconductor sector is carried out sustainably and with a long-term perspective," he added.
The Sun
a day ago
- Business
- The Sun
MITI boosts state-level semiconductor initiatives under NSS
KUALA LUMPUR: The Ministry of Investment, Trade and Industry (MITI) is reinforcing state-level initiatives to support the National Semiconductor Strategy (NSS), ensuring alignment with national objectives. Minister Tengku Datuk Seri Zafrul Abdul Aziz highlighted the importance of state-driven talent development programmes in complementing federal efforts to enhance Malaysia's semiconductor ecosystem. One key example is the Selangor Information Technology and Digital Economy Corporation (SIDEC), which has established the Malaysia Advanced Semiconductor Academy and launched a global semiconductor exchange programme. 'This initiative will be standardised and integrated into the NSS talent development framework, particularly in human capital development, which is crucial for industry growth,' Tengku Zafrul said during the Dewan Rakyat session. The minister responded to a supplementary question from Datuk Seri Amirudin Shari (PH-Gombak) regarding federal and state efforts to train 60,000 engineers under the NSS. Tengku Zafrul urged Selangor to collaborate with existing national talent programmes, emphasising the need to address shortages in skilled professionals across the semiconductor value chain. 'MITI is committed to fostering a collaborative ecosystem involving state governments, industry players, and higher education institutions. This ensures sustainable and long-term talent development in the semiconductor sector,' he added. - Bernama
Barnama
a day ago
- Business
- Barnama
MITI Continues To Strengthen State-level Initiatives Under NSS
BUSINESS KUALA LUMPUR, July 31 (Bernama) -- The Ministry of Investment, Trade and Industry (MITI) will continue to strengthen state-level initiatives that align with national aspirations and provide a conducive environment for their implementation under the National Semiconductor Strategy (NSS). Minister Tengku Datuk Seri Zafrul Abdul Aziz said MITI recognises and supports talent development initiatives implemented by state governments to complement national efforts in strengthening the country's semiconductor ecosystem. 'One of the best examples is the effort spearheaded by the Selangor Information Technology and Digital Economy Corporation (SIDEC), through the establishment of the Malaysia Advanced Semiconductor Academy and the implementation of a global semiconductor exchange programme. 'This initiative will be standardised and integrated strategically into the talent development framework under the NSS, especially in the human capital development thrust which is the backbone of the semiconductor industry's growth,' he said during the Minister's Question Time in the Dewan Rakyat today. He said this in response to a supplementary question from Datuk Seri Amirudin Shari (PH-Gombak), who asked the minister to outline the federal and state governments' efforts to meet the target of training or securing up to 60,000 engineers under the NSS. Tengku Zafrul also called on the Selangor state government to collaborate with existing national talent development programmes. 'This approach is in line with the national target to address the shortage of engineers and highly skilled professionals across the semiconductor value chain. 'MITI is also committed to building a more collaborative and inclusive ecosystem involving state governments, industry players, and institutions of higher learning. This is to ensure that talent development in the semiconductor sector is carried out sustainably and with a long-term perspective,' he added. -- BERNAMA
Bangkok Post
a day ago
- Business
- Bangkok Post
Malaysia set to unveil US trade deal after Trump-Anwar call
Malaysia is set to announce a trade deal with the United States after US President Donald Trump and his Malaysian counterpart Anwar Ibrahim spoke by telephone. Malaysia and the US had discussed a tariff rate below 20%, said people familiar with the plan, asking not to be identified because the talks are private. The call lasted about 20 minutes, they added. Anwar said in a speech to parliament he discussed tariffs with Trump in a call on Thursday morning. The Malaysian leader added Trump would announce the levy for goods from his country on Friday, without offering details on what the level might be. The US president had threatened to impose a 25% levy on Malaysian goods unless a deal was reached by Friday. The agreement follows other deals reached in Asia — with goods from the Philippines and Indonesia facing tariffs of 19%, and Vietnam 20%. Spokespeople at Anwar's office and Malaysia's Ministry of Investment, Trade and Industry didn't immediately respond to requests for comment. The threat of steeper tariffs has weighed on Malaysia's trade-reliant economy, leading the central bank to cut its growth forecast for 2025 to a range of 4% to 4.8%. Bank Negara Malaysia also lowered interest rates in July by a quarter point to preemptively support the economy.
