FX.co ★ Malaysia Seeks Fair Trade Talks with U.S. After Tariff Hike

Malaysia is actively engaging in talks with U.S. officials to negotiate fair trade conditions in light of President Trump's recent tariff impositions, which include a 10% universal import levy and a 24% reciprocal duty specifically targeting Malaysian exports. The Ministry of Investment, Trade, and Industry (MITI) acknowledged the disruptive nature of these tariffs but emphasized Malaysia's commitment to preserving open trade channels rather than resorting to retaliatory measures. MITI reaffirmed its goal of safeguarding the nation's economic interests while enhancing trade relations with the United States. As the 15th-largest trading partner of the U.S. in 2024, Malaysia reported a trade surplus of USD 24.8 billion with America. Despite the U.S. experiencing a goods deficit with Malaysia, it enjoys a surplus in services, a result of the long-standing presence of U.S. corporations in the region. Kuala Lumpur aims to advocate for mutually advantageous trade agreements and explore the possibility of a technology partnership to strengthen ties in sectors such as semiconductors, aerospace, and digital industries.