Malaysia Defends US Trade Pact Amid Sovereignty Concerns
Malaysia has defended its reciprocal trade agreement with the US, stating that the country has not surrendered its sovereignty in safeguarding the economy from harsher sanctions.
A clause in the agreement requires Malaysia to align itself with the US on economic restrictions or sanctions against a third country.
Key Points of the Agreement
- The deal was signed by Malaysian Prime Minister Anwar Ibrahim and US President Donald Trump on the sidelines of the Asean summit.
- The agreement maintains the White House’s unilateral 19 per cent tariff on Malaysian exports.
- It grants exemptions for 1,711 essential products, including electronics, rubber, and palm oil derivatives.
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Author's summary: Malaysia defends its trade pact with the US.
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