Latest news with #USMalaysia
Bloomberg
21-05-2025
- Business
- Bloomberg
Malaysia Seeks Amicable Solution as Tariff Talks Begin With US
Malaysia is looking for common ground with the US on matters of trade as it begins negotiating the 24% levy that President Donald Trump is set to impose on the Southeast Asian nation. Malaysia is open to narrowing the US trade deficit with the country, addressing non-tariff barriers, strengthening technological safeguards and security, and exploring a potential bilateral trade agreement, according to a statement from the Investment, Trade and Industry Ministry on Friday.
Free Malaysia Today
17-05-2025
- Business
- Free Malaysia Today
US business chamber welcomes M'sia's Q1 economic performance
The American Malaysian Chamber of Commerce said long-term investment decisions by American companies are driven by Malaysia's global competitiveness and ability to adapt to evolving business models. (AP pic) PETALING JAYA : Malaysia's 4.4% economic growth in the first quarter of 2025 reflects resilience and a stable business environment, according to the American Malaysian Chamber of Commerce (Amcham). In a statement to Bernama, Amcham CEO Siobhan Das said the US business community continues to see Malaysia as a strategic regional hub, with current momentum supporting a positive investment outlook. She also emphasised the importance of longstanding US-Malaysia ties, noting that more American investments are expected, alongside growing Malaysian investments in the US. The US has been Malaysia's third-largest trading partner since 2015, with total trade between the two countries surging 29.9% to RM324.91 billion last year. Das said that while economic indicators like GDP are useful, long-term investment decisions are driven by Malaysia's global competitiveness and ability to adapt to evolving business models. 'Strong GDP growth boosts confidence, but what matters most to US multinationals is the ease of doing business – streamlined operations, minimal bureaucracy, and clear, consistent regulations,' said Das. 'Flexibility and regulatory simplicity are essential, especially when companies need to adjust production quickly,' she said. Bank Negara Malaysia (BNM) announced yesterday that the economy grew 4.4% in Q1 2025, supported by strong household spending, a favourable labour market and government policies. BNM governor Abdul Rasheed Ghaffour said growth was also driven by steady investment and exports, particularly in the electrical and electronic sector and tourism. Last month, the US announced tariffs on goods imported from some 60 countries, set at varying rates. Malaysia was slapped with a 24% tariff on most of its exports to the US. The tariffs were subsequently paused for 90 days to allow for trade negotiations. However, a 10% blanket duty remains in place on almost all imports into the US. On Thursday, investment, trade and industry minister Tengku Zafrul Aziz said discussions between Malaysia and the US regarding the latter's tariffs were progressing well.
