PETALING JAYA: Malaysia’s views have been “well-received” in the first rounds of talks with the US on its 24% “reciprocal” tariff, says finance minister II Amir Hamzah Azizan.
However, he acknowledged that a bilateral arrangement will take time.
Speaking at the Asean Leadership Forum at the Centre for Strategic and International Studies in Washington yesterday, Amir stressed that Malaysia seeks to maintain good ties with the US.
“Malaysia has always been a good economic partner to the US. That’s why the US has always been among Malaysia’s highest foreign investors.
“We provide an environment where US companies are able to prosper. Intel has been in Malaysia since 1971. (Other companies have) been in Malaysia even longer, (some) since independence,” Bernama quoted him as saying.
He was asked what positive US-Malaysia economic relations would look like under President Donald Trump’s administration without a global trade war.
“What we want is the ability for us to continue this (positive) relationship.
“Create a mechanism where both parties will gain in terms of opportunities to prosper and can compete to grow and integrate what they have within Malaysia with the global supply chain. That’s a great outcome,” he said.
Amir said he believes such mutual understanding and approach are doable as both countries have consistently approached the partnership with mutual respect.
“I think it can continue down that path, because both parties treat each other with respect. Both parties work to integrate things along the way and work to a common outcome,” he said.
He emphasised the importance of focussing on how to “make the cake bigger”, rather than getting caught up in arguments over how to “divide the cake into little bits”, adding such an approach would add little value.
On Thursday, investment, trade and industry minister Tengku Zafrul Aziz met with US trade representative Jamieson Greer and secretary of commerce Howard Lutnick in Washington to discuss the tariff, which has been put on hold for 90 days.
In a statement on the meeting, the ministry said Malaysia stands ready to continue collaborating with the US to reach mutually agreeable solutions regarding the “reciprocal” tariff announced by Trump’s administration.