00:00Malaysia will push for lower tariff rates on key sectors, following the U.S.'s 10 percent
00:06baseline tariff, particularly those deemed strategic to both economies.
00:10This comes ahead of another round of negotiations with Washington on June 18th.
00:16Investment Trade and Industry Minister Tengku Datuk Sri Zafru Abdul Aziz said the talks
00:20aim to secure fairer terms for Malaysian exporters.
00:24He added that Malaysia remains committed to engaging constructively with the U.S. government.
00:28However, he did not specify which sectors were under negotiation.
00:33The June 18th mission follows an earlier high-level visit by Zafrul on April 24th, during which
00:39he held talks with U.S. Commerce Secretary Gina Raimondo and other senior U.S. officials.
00:45The U.S. currently imposes a 24 percent tariff on certain Malaysian exports.
00:50Implementation on these tariffs have been temporarily paused for 90 days to allow room for negotiations.
00:58The negotiation is recently to make sure that, as you know, there is a floor that they ever
01:05said that it looks like non-negotiable, which is the 10 percent.
01:09Malaysia has been imposed a tariff of 24 percent.
01:13So, of course, the first target is to reduce that.
01:17Second target is there are sectors that we feel should be even going below that 10 percent.
01:23So, maybe we have to look at those sectors carefully.
01:27Sectors that are important for Malaysian exporters and sectors that are also important for the U.S. economy.
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