More

    Malaysia Seeks Zero Tariff on Exports to U.S.

    Malaysia has requested the United States to grant zero tariff rates on its exports of furniture, automotive parts, and aerospace products, a senior trade ministry official confirmed on Friday.

    According to the official, Washington has also agreed to consider tariff exemptions for Malaysian commodities not produced in the U.S., such as cocoa and palm oil, with a final decision expected in October. The clarification followed an earlier report by state news agency Bernama.

    Don’t Miss This: U.S. Deportees Say They Remain Detained in Ghana Despite Amidst Denials

    The discussions come as U.S. President Donald Trump announced a fresh round of tariffs on Thursday, including a 50% duty on imported kitchen cabinets and bathroom vanities and a 30% levy on upholstered furniture. 

    In August, Washington had imposed a 19% tariff on Malaysian imports, intensifying pressure on bilateral trade ties.

    Malaysian Prime Minister Anwar Ibrahim stated in a Facebook post that both countries aim to conclude an agreement ahead of Trump’s planned visit to Kuala Lumpur in October for the ASEAN summit.

    Image Credit: South China Morning Post

    Sign up for our free Daily newsletter

    We'll be in your inbox every morning Monday-Saturday with top business news, inspiring stories, best advice and exclusive reporting from Entrepreneur.

    Related Posts

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Captcha verification failed!
    CAPTCHA user score failed. Please contact us!

    Latest

    U.S. Deportation Flight Carrying Second Batch of Asian Migrants Lands in South Africa

    A second group of Southeast Asian migrants deported from the United States have arrived in Eswatini, marking a new phase in Washington’s controversial third-country...

    Petrol Still Sells at ₦865 Per Litre Despite Dangote’s Free Delivery

    Despite the Dangote Refinery’s recent reduction in ex-depot petrol prices and free logistics initiative, fuel prices at most filling stations across Nigeria have remained...

    Dangote Launches $2.5 Billion Fertiliser Plant Project in Ethiopia

    The President and Chief Executive Officer of the Dangote Group, Aliko Dangote, has officially commenced the construction of a $2.5 billion fertiliser plant in...

    NNPC Attributes Cooking Gas Price Surge to PENGASSAN Strike

    The Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), Bayo Ojulari, has attributed the recent increase in cooking gas prices...

    Oil Prices Rise as OPEC+ Approves 137,000-Barrel Daily Output Increase

    Oil prices edged higher on Sunday after the Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to a modest production increase...