KUALA LUMPUR, Oct 26 — The new reciprocal trade agreement signed by Prime Minister Datuk Seri Anwar Ibrahim and US President Donald Trump today offers Malaysia better access to the US market without altering any previous commitments between the two nations.
Speaking to reporters, Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz said some 1,711 tariff lines — comprising key export commodities such as palm oil, rubber, cocoa, aircraft parts and pharmaceuticals — have been exempted from the 19 per cent tariff.
The exempted items, he said, are worth US$5.2 billion and account for 12 per cent of the country’s total exports.
Zafrul said the Trump administration has also agreed to give due consideration to semiconductor exports from Malaysia under Section 232 of the US Trade Expansion Act.
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