Trump defers announcement of tariff rate on Malaysian goods to Aug 1, will attend Asean Summit in October: Anwar

The United States' tariff rate on Malaysian goods will be announced on Friday (Aug 1), Malaysian Prime Minister Anwar Ibrahim said on Thursday (Jul 30) after speaking to US President Donald Trump.

"After the discussion and some clarifications that I made, he (Trump) decided to postpone the announcement of the tariff rate to tomorrow," said the Malaysian prime minister, adding that the call took place at 6.50am on Thursday morning. 

Anwar said that he had discussed the principles and spirit of free trade with Trump and that negotiations are ongoing between the Ministry of Investment, Trade and Industry, and the US' trade representative and commerce secretary.

These updates were shared by Anwar in Parliament on Thursday as he tabled the 13th Malaysia Plan, which outlines government spending on the country's development for the next five years until 2030.

Malaysia is facing a 25 per cent tariff rate on its exports to the US, but The Straits Times reported official sources as saying that a deal to lower the tariff to a maximum of 20 per cent or as low as 15 per cent should be announced by Aug 1. 

On Jul 7, the White House announced that Trump had signed an executive order determining that certain tariff rates, which were initially set to expire on Jul 9, will expire on Aug 1 (Friday). 

Since then, the Trump administration has struck deals with several other Asean countries, including Indonesia, the Philippines and Vietnam.  

Anwar shared that Trump had praised Malaysia for its effective and positive role in brokering the Thailand-Cambodia ceasefire.

He added that Trump confirmed his attendance for the upcoming Association of Southeast Asian Nations (Asean) Summit that will be held in Malaysia from Oct 26 to 28. 

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editor@asiaone.com