KUALA LUMPUR: Malaysia has not received any black and white from the United States on the Reciprocal Trade Agreement (ART), following its Supreme Court’s decision to cancel most of the global tariffs imposed by President Donald Trump, says Datuk Seri Johari Abdul Ghani (pic).
The Investment, Trade and Industry Minister said that within five months, the United States will conduct a review to determine the new tariff rate.
“There is none (official notification from the US government on the status of ART). They (US) said that the court (US Supreme Court) said the decision is null and void.
“Within the first five months, we will discuss but now they (US) are investigating each country (for the tariff rate).
“When they have the findings, they will give us a proposal. Let’s discuss what the conditions are,” Johari told reporters at an event in Kampung Datuk Keramat.
On March 15, he said the trade deal between Malaysia and the United States, signed on Oct 26 last year, is no longer applicable.
Under Trump’s sweeping tariff measures, Malaysia is expected to face a tariff rate of 19%. The agreement has yet to be ratified.
Malaysia is currently only subject to a global tariff of 10%.
Asked about Perikatan Nasional’s request for the ministry to provide a comprehensive explanation of the current status of ART, Johari said to refer back to the US Supreme Court’s decision.
“The United States hasn’t even written to us (regarding the official cancellation of ART),” he said.
Perikatan secretary-general Datuk Seri Takiyuddin Hassan said a full disclosure of ART’s termination was necessary given its economic and diplomatic implications for Malaysia.
