Tuesday, 02 January 2024 12:17 GMT

Malaysia Calls US 25 Pct Tariff Disruptive To Business, Supply Chains


(MENAFN- The Peninsula) Xinhua

Kuala Lumpur: The imposition of a tariff rate of 25 percent on Malaysian exports to the United States is potentially disruptive to business operations, supply chains, and investment flows that benefit both countries, Malaysia's Investment, Trade and Industry Ministry said on Tuesday.

Malaysia is however still committed to negotiations to reach a fair and sustainable outcome for both parties, it said in a statement following a letter by US President Donald Trump addressed to Malaysian King Sultan Ibrahim Sultan Iskandar.

"Malaysia views unilateral measures as potentially disruptive to business operations, supply chains, and investment flows that benefit both countries," it said.

"Malaysia strongly believes that together, we can find mutually acceptable solutions that safeguard the interests of both our countries and our peoples, while ensuring that bilateral trade and investment remain a positive force for sustainable economic development," it added.

The tariff rate is scheduled to be imposed from Aug. 1, 2025.

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