00:00The U.S. government has reduced the reciprocal tariff imposed on Malaysia to 19%.
00:06The U.S. previously imposed a 25% tariff on Malaysia effective August 1st,
00:12a rate which President Donald Trump described as far less than what was needed
00:16to eliminate the country's trade deficit with Malaysia.
00:19The rate was also higher than the 24% initially imposed on certain Malaysian exports to the U.S.
00:25and placed on a 90-day pause ending yesterday.
00:30Prime Minister Anwar Ibrahim had hinted at a new rate when tabling the 13th Malaysia plan yesterday.
00:36Last week, Investment, Trade and Industry Minister Dengguzafrul Aziz said Malaysia was aiming for
00:41the lowest possible tariff rate on its exports to the U.S.
00:44in dismissing a Bloomberg report quoting government sources as saying that Malaysia was targeting 20%.
00:51He also said details of the negotiations would be revealed once talks are completed
00:56when asked if Malaysia would be offering specific concessions to the U.S.
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