KUALA LUMPUR, July 8 — The United States has imposed a higher tariff of 25 per cent on any and all Malaysian products sent into the country, separate from all sectoral tariffs, effective August 1, this year.
This is one percentage point higher compared to what had been announced in April.
In a letter to Prime Minister Datuk Seri Anwar Ibrahim posted on Truth Social account yesterday, US President Donald Trump said "the 25 per cent number is far less than what is needed to eliminate the trade deficit disparity we have with your country".
However, the letter also said that there would be no tariff if Malaysia, or Malaysian companies, decide to build or manufacture products within the United States and that Washington "will do everything possible to get approvals quickly, professionally, and routinely — in other words, in a matter of weeks".
Trump also said that if Malaysia decided to raise tariffs, the number that the country imposed will be added onto the 25 per cent that US is charging.
Similar letters were sent to the leaders of 13 other countries, namely Japan, South Korea, Kazakhstan, South Africa, Myanmar, Laos, Tunisia, Indonesia, Bangladesh, Serbia, Bosnia and Herzegovina (BiH), Cambodia, and Thailand, informing them that tariffs ranging from 25 per cent to 40 per cent will be charged starting next month.
Malaysia has been negotiating the US tariff with Washington since April, with the aim to lessen the 24 per cent tariff imposed earlier, with the latest talks held on June 18 this year.
This announcement came ahead of the US Secretary of State Marco Rubio’s first trip to Kuala Lumpur for the Asean-US post ministerial conference and other meetings of the 58th Asean Foreign Ministers Meeting and related meetings starting today.
— Bernama
