Bilateral trade deal among topics discussed with US - Miti

Malaysia has expressed its openness to negotiate with the United States on four key areas, namely reducing the trade deficit; addressing non-tariff barriers; strengthening technological safeguards and security; and exploring a potential bilateral trade agreement.

In a statement today, the Investment, Trade and Industry Ministry said Malaysia stands ready to continue collaborating with the US to reach mutually agreeable solutions regarding the reciprocal tariffs announced by Donald Trump’s administration.

Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz led a delegation to meet and engage with the US Secretary of Commerce, Howard Lutnick and the US Trade Representative, Jamieson Greer, in Washington, DC, on Thursday, on the reciprocal tariff imposed by the US on Malaysia.

“Malaysia is encouraged by the recent 90-day pause on the proposed tariff measures and views it as a window of opportunity for constructive engagement.

“Malaysia has publicly stated that it will not take retaliatory action against the US but stands ready to collaborate on mutually agreeable outcomes about the concerns raised by the Trump Administration,” it said.

In both meetings, the ministry stressed that the US has long been, and will continue to be, one of Malaysia’s most important and strategic economic partners.

Over the decades, American companies have made significant contributions to the Malaysian economy; this relationship has delivered tangible benefits to businesses and workers on both sides, said the ministry.

Seeking alternatives

“The ministry also highlighted the strong bilateral trade performance for the last 10 years, which has become more balanced, particularly as the trade deficit recorded by the US has shown a downward trend, reflecting beneficial changes in bilateral trade,” it said.

Therefore, it said Malaysia will seek to explore alternative ways to address the US concerns, while ensuring that mutually beneficial Malaysia-US trade flows continue.

Zafrul added that these first meetings with Lutnick and Greer are a step in the right direction.

“We will continue to keep the momentum by following up urgently on some of the key issues discussed since the pause started. Malaysia also stressed that all communication lines remain open, and we will continue to work towards an amicable solution,” he said.

Additionally, the ministry said discussions also centred on how the US can work more closely with Asean, especially given Malaysia’s position as Asean chair this year, which is a timely opportunity to advance shared goals and regional stability.

- Bernama

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