PETALING JAYA: An opposition MP has urged the government to explain why tariff negotiations with the US failed, following the imposition of a 25% rate on Malaysian goods effective Aug 1.
In a Facebook post, Tasek Gelugor MP Wan Saiful Wan Jan said the investment, trade and industry ministry’s (Miti) goal of talks with Washington would naturally have been to lower the tariff rate.
However, the 25% rate announced by US president Donald Trump today was higher than the 24% originally imposed.
“This clearly shows that the government has failed to fulfil the hopes of the rakyat in the matter of US tariffs. And it clearly shows the relevant minister’s failure to defend the nation’s interests,” he said in a jab at Miti minister Tengku Zafrul Aziz.
The Bersatu Supreme Council member also said the development meant that the funds used to send Malaysian delegations for trade talks with the US had gone to waste.
In a letter addressed to Prime Minister Anwar Ibrahim, Trump said the 25% tariff on Malaysian goods was “far less” than what was needed to eliminate the country’s trade deficit with Malaysia.
The US president added that any attempt to reroute goods through other countries to avoid higher tariffs would be penalised by the application of higher rates.
Miti has said it will continue discussions with its US counterparts, and that it remains committed to engaging the US on a “balanced” and “mutually beneficial” trade agreement.
Miti deputy secretary-general (trade) Mastura Ahmad Mustafa led the tariff negotiations with Washington from May 28 to May 30.
Tengku Zafrul then led a delegation last month and said discussions with the US trade representative and secretary of commerce on tariff-related negotiations had made good progress.
