Trade talks 'progress well', Malaysia and US aim to finalise before 90-day deadline
KUALA LUMPUR: Malaysia says its trade talks with the US in Washington DC are progressing well, about two weeks before the 90-day pause of the latter's unilateral tariff implementation expires.
Malaysia said both parties had agreed to intensify efforts toward a mutually acceptable outcome for key stakeholders in the two countries.
The country faces a 24 per cent tariff on certain exports to the US unless both sides reach an agreement before the 90-day pause ends on July 8.
Investment, Trade and Industry Ministry today said its separate meetings with US Trade Representative ambassador Jamieson Greer and US Secretary of Commerce Howard Lutnick had made positive progress.
"The Malaysian delegation led by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz ensured that the meetings with the US Trade Representative and the US Secretary of Commerce was also optimised as a platform to enhance bilateral investment and trade ties between Malaysia and the US.
"These will also form part of the expected outcome of the negotiations, which the ministry hopes will be finalised before the end of the 90-day pause on tariff implementation," it said in a statement.
Tengku Zafrul, who led a working visit to Washington DC on June 18, said the negotiations are expected to boost Malaysia's supply chain resilience.
He added that the outcomes could benefit local small and medium enterprises (SMEs) and generate more high-paying jobs for Malaysians.
"All these will further strengthen Malaysia's position as a choice investment destination in the region, while driving the Madani economic transformation agenda towards a high-tech and higher-income nation," he added.
Tengku Zafrul said Malaysia's exports to the US recorded their eighth straight month of double-digit growth in May 2025, with the US remaining one of the country's top three export destinations over the past decade.
He noted that a significant portion of these exports supports US domestic industries, particularly in sectors like electrical and electronics, semiconductors, medical devices, machinery, equipment and components.
"Malaysia has also been an important source of intermediate goods to US-based manufacturing industries.
"The ministry has also remained steadfast in doing its utmost to uphold Malaysia's interests in all trade and investment relations with all trading partners, particularly in maintaining the integrity of Malaysia's domestic commitments and its sovereign rights," he said.
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