00:01The US has imposed a 25% tariff on Malaysia starting August 1st, a rate which US President Donald Trump described as far less than what is needed to eliminate the country's trade deficit with Malaysia.
00:15The rate is also higher than the 24% initially imposed on certain Malaysian exports to the US, later placed on a 90-day pause that ended today.
00:24In a letter addressed to Prime Minister Anwar Ibrahim posted on Trump's Truth Social platform, Trump said Malaysia's current trade policies had made its trading relationship with the US largely one-sided and non-reciprocal.
00:39He also said that he was ready to lower the 25% tariff if Malaysia changed its trade policies.
00:45He also warned that any decision by Malaysia to raise tariffs on US goods would result in an additional 25% tariff in response.
00:55In his letter, Trump also emphasized the United States' continued commitment to its trading relationship with Malaysia despite its significant trade deficit with the country,
01:05adding that there would be no tariffs if Malaysia or Malaysian companies choose to build or manufacture products within the US.
01:11Trump also issued similar letters to several other countries including Japan, South Korea, Indonesia, Bangladesh, Thailand, and South Africa.
