The Malaysian government welcomes the United States' (US) proposal to lower trade tariffs to 10% on Malaysian goods.
Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz said the US has set 10% as a minimum non-negotiable rate.
Tengku Zafrul said that tariff rates below 24% are considered positive and sufficient to help local industries and exporters.
Malaysia is currently holding negotiations with Washington so that tariff rates can be reduced after imposing high tariffs of up to 49% on countries in Southeast Asia.
However, in return, the US wants Malaysia to act to eliminate non-tariff barriers, reduce trade imbalances and control the flow of sensitive technology.
He also discussed that Malaysia and the US will hold further negotiations next week to ensure that trade relations between the two countries remain strong.
Malaysia has also tightened regulations to prevent the re-export of chips to prohibited countries such as China in order to protect the country's trade.
