Tariff negotiations with US will continue, says Anwar

KUALA LUMPUR: Tariff negotiations between Malaysia and the United States will continue, says Datuk Seri Anwar Ibrahim.

The Prime Minister said Malaysia had sent teams to negotiate and explain the country’s position.

“Ours is a trading nation and therefore, any unilateral tariffs will have a negative impact on the economy of this country and the region.

“We are still in the midst of these negotiations.

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“When I meet US Secretary of State Marco Rubio tomorrow (July 10), I will certainly raise some of these issues for his consideration, before the final decision by President Donald Trump,” he told reporters on the sidelines of the 58th Asean Foreign Ministers Meeting and Related Meetings here on Wednesday (July 9).

Rubio will be traveling to Malaysia for meetings with Asean allies.

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Malaysia was hit with a 25% tariff by the US, which is set to take effect beginning Aug 1.

The rate is 1% more than the 24% imposed previously.

Apart from Malaysia, other countries to be slapped with 25% tariffs included Japan, South Korea, Tunisia and Kazakhstan.

Other countries hit with US tariffs include South Africa (30%), Bosnia and Herzegovina (30%), Indonesia (32%), Serbia, (35%) Bangladesh (35%), Cambodia (36%) and Thailand (36%) and 40% on Laos and Myanmar.