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US trade deal strips Malaysia of economic control, says Azmin
www.freemalaysiatoday.com
4 hours ago
PN secretary-general Azmin Ali said the trade agreement Malaysia signed with the US yesterday destroys the neutrality that has long been Malaysia’s strength.
PETALING JAYA:The trade agreement Malaysia signed with the US yesterday will undermine the country’s economic sovereignty as it forces Putrajaya to follow Washington’s rules and regulations surrounding trade and investment, says Perikatan Nasional secretary-general Azmin Ali.
Azmin, a former international trade and industry minister, said one of the most damaging clauses of the Malaysia-US Reciprocal Trade Agreement was one which requires Malaysia to copy any US trade restrictions or sanctions against other countries.
“If Washington decides to block imports from China or Russia, Malaysia must do the same, even if it harms our economy,” Azmin said in a statement.
“This clause (Article 5.1) forces Malaysia to take sides in other people’s conflicts and destroys the neutrality that has long been our strength.
“By aligning Malaysia’s policies with US decisions, the agreement risks driving away investors who value Malaysia’s role as a neutral and stable partner in this part of the world.”
Malaysia and the US signed a wide-ranging reciprocal trade deal yesterday aimed at strengthening bilateral economic ties, expanding market access and bolstering supply chain resilience.
Under the agreement, Malaysia has committed to providing significant preferential market access for US industrial goods exports, including chemicals, machinery and electrical equipment, metals and passenger vehicles, as well as for agricultural exports such as dairy products, poultry and rice.
The US, meanwhile, will maintain a 19% reciprocal tariff on Malaysian goods, with certain products receiving a 0% tariff rate under a list of aligned partners.
Malaysia will refrain from banning, or imposing quotas on, exports to the US of critical minerals or rare earth elements and will partner with American firms “to create certainty for businesses to increase production capacity”.
On digital trade, Malaysia agreed to “refrain from imposing digital services taxes that discriminate against US companies” and to “ensure the transfer of data across trusted borders, with appropriate protections”.
Azmin claimed the agreement also strips Malaysia of its ability to regulate its own markets as it forces local agencies to accept American standards for food, medicine and vehicles.
He also alleged that the agreement weakens Malaysia’s halal certification system by recognising foreign certifiers.
“The few short-term benefits are nothing compared to the long-term damage,” he said.
“Implementing the agreement would not make Malaysia stronger, it would mark the surrender of our sovereignty, our neutrality and our economic future.”
Meanwhile, PN president Muhyiddin Yassin said he was concerned about the “excessive welcome” Prime Minister Anwar Ibrahim gave US president Donald Trump on his arrival yesterday.
Trump appeared to be in a cordial mood after touching down at KLIA, joining cultural performers in a brief dance with Anwar before waving the Malaysian and the American flags.
Hundreds of protesters rallied against Trump’s presence in the country due to Washington’s support for Israel’s actions in Gaza, and Muhyiddin said Anwar’s dance with Trump had hurt the feelings of Malaysians who sympathise with the suffering of the Palestinians.
“Trump is the embodiment of America’s arrogant foreign policy. Extending such an overly enthusiastic welcome to a figure like him is deeply shameful for Malaysia,” Muhyiddin said.
www.freemalaysiatoday.com
4 hours ago
PETALING JAYA:The trade agreement Malaysia signed with the US yesterday will undermine the country’s economic sovereignty as it forces Putrajaya to follow Washington’s rules and regulations surrounding trade and investment, says Perikatan Nasional secretary-general Azmin Ali.
Azmin, a former international trade and industry minister, said one of the most damaging clauses of the Malaysia-US Reciprocal Trade Agreement was one which requires Malaysia to copy any US trade restrictions or sanctions against other countries.
“If Washington decides to block imports from China or Russia, Malaysia must do the same, even if it harms our economy,” Azmin said in a statement.
“This clause (Article 5.1) forces Malaysia to take sides in other people’s conflicts and destroys the neutrality that has long been our strength.
“By aligning Malaysia’s policies with US decisions, the agreement risks driving away investors who value Malaysia’s role as a neutral and stable partner in this part of the world.”
Malaysia and the US signed a wide-ranging reciprocal trade deal yesterday aimed at strengthening bilateral economic ties, expanding market access and bolstering supply chain resilience.
Under the agreement, Malaysia has committed to providing significant preferential market access for US industrial goods exports, including chemicals, machinery and electrical equipment, metals and passenger vehicles, as well as for agricultural exports such as dairy products, poultry and rice.
The US, meanwhile, will maintain a 19% reciprocal tariff on Malaysian goods, with certain products receiving a 0% tariff rate under a list of aligned partners.
Malaysia will refrain from banning, or imposing quotas on, exports to the US of critical minerals or rare earth elements and will partner with American firms “to create certainty for businesses to increase production capacity”.
On digital trade, Malaysia agreed to “refrain from imposing digital services taxes that discriminate against US companies” and to “ensure the transfer of data across trusted borders, with appropriate protections”.
Azmin claimed the agreement also strips Malaysia of its ability to regulate its own markets as it forces local agencies to accept American standards for food, medicine and vehicles.
He also alleged that the agreement weakens Malaysia’s halal certification system by recognising foreign certifiers.
“The few short-term benefits are nothing compared to the long-term damage,” he said.
“Implementing the agreement would not make Malaysia stronger, it would mark the surrender of our sovereignty, our neutrality and our economic future.”
Meanwhile, PN president Muhyiddin Yassin said he was concerned about the “excessive welcome” Prime Minister Anwar Ibrahim gave US president Donald Trump on his arrival yesterday.
Trump appeared to be in a cordial mood after touching down at KLIA, joining cultural performers in a brief dance with Anwar before waving the Malaysian and the American flags.
Hundreds of protesters rallied against Trump’s presence in the country due to Washington’s support for Israel’s actions in Gaza, and Muhyiddin said Anwar’s dance with Trump had hurt the feelings of Malaysians who sympathise with the suffering of the Palestinians.
“Trump is the embodiment of America’s arrogant foreign policy. Extending such an overly enthusiastic welcome to a figure like him is deeply shameful for Malaysia,” Muhyiddin said.
