Malaysia is aiming for the lowest possible tariff rate on its exports to the US, says investment, trade and industry minister Tengku Zafrul Aziz.
He dismissed a recent Bloomberg report quoting government sources that Malaysia was targeting a 20% tariff rate, saying that is not the government’s direction.
“The direction is to get as low as possible. As low as possible for Malaysia. The target of 20% is definitely not a target. The target is to be lower than that,” he told a press conference after attending the Asean Semiconductor Summit 2025 here today.
Tengku Zafrul also said that discussions with the US were still ongoing, with just about a week left before the Aug 1 deadline.
“It’s progressing. There are discussions happening. In fact, this week alone, we are still in negotiations. We are still on track to meet the deadline,” he said.
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