The US has agreed to consider granting zero tariff rates on several commodity products proposed by Malaysia, including palm oil and cocoa, which are expected to be finalised next month.
Malaysia’s chief negotiator for official tariff negotiations, Mastura Ahmad Mustafa, said the US was also considering zero tariffs for furniture, automotive parts and components, as well as aerospace parts and components.
Mastura, the deputy secretary-general of the investment, trade and industry ministry, said the US side had conveyed the matter in several prior negotiation sessions.
“As mentioned, we are currently in the process of detailing the agreement on reciprocal tariffs. Starting yesterday, we have arranged several virtual sessions with the US to finalise the agreement.
“In these negotiations, the US side indicated that they are open to considering several goods which in their view cannot be produced domestically in the US.
“For such products, they will consider granting exemptions in the form of zero tariffs under this unilateral tariff arrangement,” Bernama reported her as saying today.
Yesterday, US trade representative Jamieson Greer said the US is in the process of negotiating deals and establishing a stable economic relationship with Asean.
He said the US has not ruled out imposing another round of tariffs on Asean member nations if ongoing trade negotiations fail to deliver outcomes favourable to Washington.
“What we are focused on at this stage are the negotiations, not tariffs,” he said.
