Malaysia is committed to accelerating the development of the essential minerals and rare earth sectors through collaboration with companies from the United States (US), including the granting of operating license extensions to ensure business certainty in increasing production capacity.
In a joint statement, Malaysia reiterated its commitment not to impose restrictions or quotas on the export of essential minerals or rare earth elements to the US.
In addition, Washington and Putrajaya are committed to strengthening economic and national security cooperation, enhancing supply chain resilience and innovation, tackling duty evasion, and enhancing cooperation in investment security and export controls.
Both countries also noted existing commercial agreements between US and Malaysian companies, including the purchase of 30 aircraft with an option for an additional 30 units, as well as the purchase of semiconductors, aerospace components and data center equipment worth around $150 billion (RM633 billion).
Among others, it includes the purchase of up to five million tonnes per year of liquefied natural gas (LNG) worth $3.4 billion (RM14.4 billion) per year, purchases of coal and telecommunications products and services totaling $204.10 billion (RM861.9 billion), in addition to capital fund investments in the US of $70 billion (RM295.6 billion).
The two countries also agreed to implement a Reciprocal Trade Agreement to strengthen bilateral economic relations and expand market access for exporters on both sides.
This agreement builds on long-standing economic relations, including the US-Malaysia Trade and Investment Framework Agreement signed in 2004.
Meanwhile, the White House announced that Malaysia is committed to providing preferential market access to US industrial exports, including chemicals, electrical machinery and equipment, metals and passenger vehicles, and US agricultural exports such as dairy products, horticulture, livestock, processed products, beverages, pork, rice and fuel ethanol.
The US Treasury Department and Bank Negara Malaysia also held discussions to finalize a memorandum of understanding on key monetary policies to support fair economic relations between the two countries.
Washington is committed to maintaining the 19% retaliatory tariff on goods from Malaysia as set out in Executive Order 14257 dated 2 April 2025, including related amendments.
