MALAYSIA’S Ministry of Investment, Trade and Industry (MITI) will hold a press conference this Wednesday evening to respond to the United States’ decision to impose a 25 per cent tariff on all Malaysian exports, Minister Tengku Datuk Seri Zafrul Abdul Aziz confirmed.
“MITI has already issued an official statement on the current tariff position, and a press conference will be held at 6pm at Menara MITI on Wednesday, following the Cabinet meeting,” he said, speaking to Malaysian journalists during an official trade mission to Italy, France and Brazil, led by Prime Minister Datuk Seri Anwar Ibrahim.
The revised tariff, which takes effect on 1 August, marks a one percentage point increase over the 24 per cent rate previously announced in April. It is to be applied uniformly to all Malaysian exports to the US, regardless of product category or existing sectoral tariffs.
In a statement released earlier, MITI expressed concern over the development but affirmed Malaysia’s preference for continued diplomacy.
“Malaysia is committed to continued engagement with the US towards a balanced, mutually beneficial, and comprehensive trade agreement,” the ministry said.
“Malaysia values its longstanding economic and trade relationship with the US and recognises the important role of open and fair trade in supporting jobs and economic growth in both countries.”
The US remains Malaysia’s second-largest trading partner and its top export market. Bilateral trade between the two countries rose by nearly 30 per cent in 2024 to RM324.9 billion (US$71.4 billion). Malaysian exports totalled RM198.7 billion (US$43.7 billion), while imports from the US reached RM126.3 billion (US$27.7 billion).
The forthcoming press conference is expected to provide further details on Malaysia’s policy stance and next steps in its ongoing discussions with Washington. - July 8, 2025
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