KUALA LUMPUR (Reuters) -Malaysia has asked the United States to consider imposing zero tariff rates on its exports of furniture, automotive and aerospace products, a Malaysian trade ministry official said on Friday. Washington has also agreed to consider granting tariff exemptions to Malaysia for commodities not produced in the United States, including cocoa and palm oil, […]
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Malaysia asks U.S. for zero tariff rate on furniture, automotive and aerospace parts
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KUALA LUMPUR (Reuters) -Malaysia has asked the United States to consider imposing zero tariff rates on its exports of furniture, automotive and aerospace products, a Malaysian trade ministry official said on Friday.
Washington has also agreed to consider granting tariff exemptions to Malaysia for commodities not produced in the United States, including cocoa and palm oil, with a decision expected to be finalised next month, the official told Reuters, clarifying an earlier report by state news agency Bernama.
U.S. President Donald Trump on Thursday announced a new round of tariffs on imported goods, including a 50% tariff on imported kitchen cabinets and bathroom vanities and a 30% tariff on upholstered furniture.
Malaysia and the United States are seeking to complete an agreement on tariffs after Washington imposed a 19% levy on Malaysian imports in August.
Malaysia Prime Minister Anwar Ibrahim said in a Facebook post on Thursday that the countries were targeting a deal before a planned October visit by Trump to Kuala Lumpur for a summit of the Association of Southeast Asian Nations.
(Reporting by Rozanna Latiff; Editing by Martin Petty and David Stanway)