M'sia to continue striving for mutually beneficial trade deal with US, says Miti

The Star

Malaysia is committed to continuing its engagement with the United States to achieve a balanced, comprehensive and mutually beneficial trade agreement, says the Investment, Trade and Industry Ministry (Miti).  In a statement on Tuesday (July 8), Miti said it would continue discussions with its US counterparts in good faith to address outstanding issues, clarify the scope and impact of the announced tariffs, and pursue avenues for the timely conclusion of our negotiations.  The United States announced that Malaysia will face a 25% trade tariff, with effect from Aug 1.   Read more at https://tinyurl.com/vt3nxu6c  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

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00:00Investment, Trade and Industry Ministries said Malaysia is committed to continuing its

00:07engagement with the United States to achieve a balanced, comprehensive and mutually beneficial

00:13trade agreement.

00:14In a statement on Tuesday, MITI said it would continue discussions with its U.S. counterparts

00:19in good faith to address outstanding issues, clarify the scope and impact of the announced

00:25tariffs and pursue avenues for the timely conclusion of our negotiations.

00:30The statement adds that the efforts are ongoing and reflect Malaysia's willingness to reach

00:36a fair and sustainable outcome for both parties.

00:40The United States announced that Malaysia will face a 25 percent trade tariff with effect

00:45from August 1.

00:47The rate, as stated in a letter posted on U.S. President Donald Trump's social media platform

00:52Truth Social, is 1 percent higher than the previously imposed 24 percent and was paused

00:58for 90 days.

01:00While the ministry acknowledges the concerns raised by the U.S. regarding trade imbalances

01:05and market access, it believes that constructive engagement and dialogue remain the best path

01:10forward.

01:12The ministry adds Malaysia views unilateral measures as potentially disruptive to business operations,

01:18supply chains and investment flows that benefit both countries.

01:22The government also remains committed to protecting the interests of Malaysian businesses, workers

01:27and consumers and will take all necessary steps to mitigate the impact of these new measures.

01:32The government also knows that they have to be held at the same time as the government

01:44as a company and their government itself is now or by the government itself.

01:49The government has been making a mới-based approach from the original land which is not

01:53important for its break-up and its Westminster standards and Entrepreneurship.

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