00:00Plantation and Commodities Minister Johari Ghani said the 19% tariff imposed by the U.S. on Malaysian goods will not affect the competitiveness of Malaysia's commodities in the global market.
00:15He said this was because the tariff remains competitive compared with other ASEAN nations, Bernama reported.
00:21He noted that Malaysia, as the world's second-largest palm oil producer, has a tariff rate that is on par with that of Indonesia, the largest producer, and remains competitive within the region.
00:35Yesterday, the U.S. announced the imposition of a 19% reciprocal tariff on imports from Malaysia effective August 8, a reduction from the previously proposed 25%.
00:46In response, Investment, Trade and Industry Minister Tengku Zafur Aziz said Malaysia will advocate for 0% tariffs on commodities such as cocoa, rubber, and palm oil, similar to the 0% rate enjoyed by the semiconductor and pharmaceutical sectors.
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