M’sia open to US trade deal

Finding the middle ground: Tengku Zafrul (third from right) in Washington DC to discuss the US tariffs issue.

Zafrul: Miti not interested in retaliation but want collaboration

KUALA LUMPUR: Malaysia is open to negotiating with the United States on reducing the trade deficit, addressing non-­tariff barriers, strengthening technological safeguards and security, and exploring a potential bilateral trade agreement.

The Investment, Trade and Industry Ministry (Miti) said the government is ready to continue collaborating with the United States to reach mutually agree­able solutions on the reciprocal tariff matter announced by President Donald Trump.

Its minister Tengku Datuk Seri Zafrul Abdul Aziz led a delegation to engage with the US Secretary of Commerce Howard Lutnick and US Trade Repre­sentative Jamieson Greer in Washington on Thursday, on the reciprocal tariff imposed by the United States on Malaysia.

“Malaysia is encouraged by the 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 United States but stands ready to collaborate on mutually agreeable outcomes about the concerns raised by the Trump Administration,” the minis­try said in a statement yesterday, Bernama reported.

In both meetings, Miti conveyed that the United States has long been and will continue to be one of Malaysia’s most important and strategic economic partners.

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

“Miti also highlighted the strong bilateral trade performance over 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.

Miti said Malaysia would seek to explore alternative ways to address the US concerns, while ensuring that mutually beneficial Malaysia-US trade flow continued.

Tengku Zafrul said the initial meetings with Secretary Lutnick and Greer was a step in the right direction.

“We will continue to keep the momentum by following up on some of the key issues discussed since the (tariff) pause started.

“Malaysia also stressed that all communication lines remain open, and we will continue to work towards an amicable solution,” he said.

Miti also said discussions centred on how the US could work more closely with Asean, especially given Malaysia’s position as Asean Chair which was a timely opportunity to advance shared goals and regional stability.