GEORGE TOWN, Oct 16 — Penang is hoping for a win-win outcome in discussions with the United States over tariff rates affecting Malaysia during the upcoming Asean Summit.
Penang Chief Minister Chow Kon Yeow said the state, through InvestPenang, has shared its feedback with the Ministry of International Trade and Industry (Miti).
“We are looking forward to when US President Donald Trump attends the Asean Summit in the week to come.
“We hope for a good resolution in terms of an agreement on the tariffs to be imposed on Malaysia,” he said at a press conference after attending the Amcham Penang Dialogue 2025 today.
Trump is expected to attend the summit, along with other top leaders, in the last week of October in Kuala Lumpur.
Chow said Malaysia has tried its best to present its case to the US as a close and strategic partner.
“The multinational companies here are part of the US supply chain, and there are also Malaysian companies investing in the US,” he said.
He expressed hope that these positive narratives will convince the US to reach a mutually beneficial solution during negotiations.
“We are complementary to US companies, not competitors, so it is hoped that an agreement can be achieved,” he said.
“We are confident and optimistic that it can be achieved in the week to come,” he added.
Earlier, Minister of International Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz reportedly said Malaysia would be holding discussions with US Secretary of Commerce Howard Lutnick regarding proposed US tariffs on several industries, including semiconductors.
Tengku Zafrul noted that tariffs for the semiconductor sector and other industries have not yet been discussed or finalised under Section 232 of the US Trade Expansion Act of 1962.
In September, Trump announced that the US would be imposing tariffs on chips and semiconductors. He did not set a deadline or announce the exact rate of the planned levy, only noting that it would be a “fairly substantial tariff.”
