19-07-2025
- Business
- New Straits Times
Anwar: Malaysia still has time to negotiate US tariff
BUKIT MERTAJAM: Prime Minister Datuk Seri Anwar Ibrahim said Malaysia still has time to negotiate with the United States (US) over the recently imposed 25 per cent import tariff.
In recent negotiations between the Indonesian government and the US, the tariff imposed on Indonesia was reportedly reduced from 30 per cent to 19 per cent, he said.
Anwar is on a one-day visit to Penang.
The prime minister said Malaysia would enter negotiations with several conditions to ensure positive outcomes.
"At the moment, the global economy is in a fragile state, including challenges such as tariff hikes under US President Donald Trump. We (Malaysia) have until early August to make a decision (to begin negotiations) using a different approach.
"Indonesia negotiated its rate down from 30 per cent to 19 per cent. Last week it was reported that Thailand's tariff remains at 30 per cent, and Cambodia's is still at 40 per cent.
"We are still negotiating, but there are several conditions we have firmly stated," he said in his speech at Universiti Teknologi MARA (UiTM), Penang branch here today.
Also present were Education Minister Fadhlina Sidek, Penang Deputy Chief Minister Datuk Dr Mohamad Abdul Hamid and Penang Bumiputera Development Council chairman Tan Sri Khalid Ramli.
It was reported that Malaysia was ramping up discussions with the US on the 25 per cent tariff, as it sought to resolve key tariff and non-tariff issues ahead of a looming Aug 1 deadline.
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the ministry had a productive engagement with the US Trade Representative and was now working to identify areas where both parties can reach an agreement.
Meanwhile, Anwar said Malaysia had received international recognition during its chairmanship of the Asean Summit.
