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The United States has agreed to consider granting tariff exemptions for major Malaysian products, including palm oil and cocoa. Government news agency Bernama reported that the decision is expected in October and could prove crucial to preserving the competitiveness of Malaysian exporters in the US market.
Chief tariff negotiator Mastura Ahmad Mustafa said Washington is prepared to impose zero tariffs on products that are not manufactured in the United States. In addition to palm oil and cocoa, Malaysia is also seeking exemptions for furniture, automotive parts and aircraft components. The talks come ahead of a possible visit by US President Donald Trump.
The initiative is being considered against the backdrop of new US tariff measures due to take effect on 1 October. In particular, the Trump administration plans to impose a 100% tariff on pharmaceutical products that have no domestic production base in America. This issue is of particular importance to Malaysia, which exports palm oil worth 4.9 billion ringgit and cocoa products worth 1.6 billion ringgit to the United States. Securing concessions could prevent significant losses and set a precedent for other Asian nations, as Indonesia has recently done.
Source: Bernama