KUALA LUMPUR, April 7 — Malaysia is seeking clarification from the United States regarding the recently announced 24 per cent retaliatory tariff, said Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz.
KUALA LUMPUR, April 7 — Malaysia is seeking clarification from the United States regarding the recently announced 24 per cent retaliatory tariff, said Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz.
He refuted claims that Malaysia imposes a 47 per cent tariff on US imports, clarifying that the actual average import duty is only around 5.6 per cent, based on the simple average most favoured nation (MFN) applied rate.
“We completely disagree with the basis used to calculate this tariff, and we’ve raised the issue with the US ambassador and his team this morning.
“This inaccurate method of calculation has unfairly resulted in Malaysia being hit with a 24 per cent retaliatory tariff,” he said at a press conference addressing the impact of the US tariffs today.
Tengku Zafrul emphasized that Malaysia has no intention of imposing retaliatory measures on US goods.
He reiterated the government’s commitment to pursuing a fair resolution that maintains market access, encourages foreign investment, and safeguards the interests of local businesses and workers.
“Malaysia remains a dependable trading partner that is open to trade and investment. We value all our economic partnerships, especially with traditional partners like the US and China.
“We are, after all, an open, trade-driven economy,” he said. — Bernama
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