KUALA LUMPUR (Reuters) -Malaysia’s trade ministry on Tuesday said a 25% tariff rate on its exports to the United States was not on top of an existing base tariff of 10% imposed by Washington, clarifying earlier remarks by the country’s plantations and commodities minister Johari Abdul Ghani.
Citing Malaysia’s trade minister, Johari had said the 25% rate was in addition to the baseline tariff introduced after a 90-day pause by the United States on the implementation of a previous levy, pending negotations.
Responding to a request for clarification from Reuters, the trade ministry said: “The current tariff is 10%. Effective 1 August, if we failed to conclude negotiations, we will be imposed with 25% only. NOT 25% + 10%.”
(Reporting by Ashley Tang and Danial Azhar; Writing by Rozanna Latiff; Editing by Martin Petty)
