Minister of Investment, Trade and Industry (MITI) Tengku Datuk Seri Zafrul Abdul Aziz has announced that Malaysia will begin reciprocal tariff negotiations with the US today. He added that the main objective for the negotiations is for there to be no tariffs imposed on Malaysia, especially in key sectors.
Tengku Zafrul was quoted by Bernama as saying that the negotiations will be held virtually. It will be led by Malaysia’s chief negotiator, Deputy Secretary-General of Trade, Mastura Ahmad Mustafa, alongside the Assistant US Trade Representative for Southeast Asia and the Pacific, Sarah Ellerman.
The MITI Minister further elaborated that the initial discussions aim to determine the scope and technical issues that need to be addressed to reach a mutually beneficial outcome. Furthermore, Malaysia don’t merely want to reduce tariffs, but aims to eliminate them altogether, if possible.
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