Malaysia’s Minister of Investment, Trade and Industry, Tengku Zafrul Aziz, expressed increased optimism regarding a potential agreement with the United States to reduce tariffs following recent discussions with U.S. Trade Representative Jamieson Greer. The meeting occurred on the sidelines of the Asia-Pacific Economic Cooperation (APEC) summit in Jeju, South Korea.
This marks the second meeting between the two officials since Malaysia initiated formal negotiations with Washington earlier this month. Minister Zafrul noted progress in the talks, stating, “We’re moving in the right direction,” and highlighted recent de-escalations in U.S.-China trade tensions as a positive sign.
Malaysia is among several Southeast Asian nations affected by the U.S.’s recent imposition of tariffs, with Malaysian exports facing a 24% tariff. The government is particularly concerned about the impact on key sectors such as aerospace and semiconductors.
In response to these challenges, Prime Minister Anwar Ibrahim has advocated for a unified ASEAN approach to address the tariffs, proposing a collective summit with U.S. President Donald Trump. The aim is to present a consolidated front to negotiate more favourable trade terms and mitigate the economic impact on the region.
As negotiations continue, Malaysia remains hopeful for a resolution that will alleviate the tariff burden and strengthen economic ties with the United States.
Photo Credit: Reuters
