KUALA LUMPUR: The government has been urged to make public the full details of the new reciprocal trade agreement signed with the United States and how Malaysia will benefit from it.
Pasir Gudang MP Hassan Abdul Karim raised objections in the Dewan Rakyat, questioning whether the deal would compromise the nation’s economic sovereignty.
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“I question what our trade negotiators, including the International Trade and Industry Minister (Datuk Seri Zafrul Abdul Aziz), have agreed to,” he said.
Hassan said Malaysia had appeared to have surrendered its economy and wealth without resistance, calling the deal “humiliating.”
“Without a single bomb or bullet, we’ve handed over our economy and our country’s wealth. Every year, we struggle to collect revenue through the Inland Revenue Board and Customs, yet we’re giving away billions to America.
“What has happened, Tambun (Prime Minister Anwar Ibrahim)? For hundreds of years, we defended (our nation), fought the Dutch, Portuguese and British.
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“Now, when Trump — the man responsible for the devastation in Gaza and Palestine — visits, we roll out the red carpet and hand over our wealth. This is unacceptable,” he said.
Earlier, former international trade and industry minister Datuk Seri Azmin Ali had also criticised the deal, saying it undermined Malaysia’s economic independence and neutrality.
“The Agreement on Reciprocal Trade is anything but reciprocal. It’s a one-sided arrangement that gives away too much control over our economy while the United States retains the right to act in its own interests,” he said.
The reciprocal trade agreement, signed on the sidelines of the 47th Asean Summit and Related Summits on Oct 26, was aimed at strengthening bilateral economic ties, expanding market access and improving supply chain resilience.
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Under the deal, Malaysia has committed to providing significant preferential market access for US industrial and agricultural goods. At the same time, the United States would maintain a 19% reciprocal tariff on Malaysian exports, with specific products receiving zero tariffs under an aligned partners list.
Meanwhile, the Parliamentary Special Select Committee on International Relations and Trade would hold a hearing to examine the newly signed reciprocal trade agreement between Malaysia and the United States.
Committee chairman Wong Chen (PH–Subang) said the bipartisan body has taken note of opposition concerns that some terms of the deal may undermine Malaysia’s trade sovereignty.
He said the hearing would invite the Investment, Trade and Industry Ministry (Miti), the US Embassy, economists and trade chambers to clarify details of the agreement and its impact on Malaysia’s commitments under existing free trade and multilateral agreements.
