US Imposes 19 Pct Tariffs On Malaysia, Four Other ASEAN Countries
KUALA LUMPUR, Aug 1 (Bernama) -- Malaysia, along with four other ASEAN member states, is now subject to a 19 per cent tariff imposed by the United States (US) effective today.
According to a presidential order issued by the White House on July 31, the same tariff rate also applies to Cambodia, the Philippines, Thailand and Indonesia.
On July 7, Washington announced it would impose a 25 per cent tariff on all Malaysian products entering the country, separate from sectoral tariffs, effective Aug 1 this year - one percentage point higher than what was announced in April.
Meanwhile, Vietnam faces a slightly higher rate of 20 per cent, followed by Brunei at 25 per cent.
The US's major trading partner, Singapore, continues to receive the lowest tariff among ASEAN nations at 10 per cent, unchanged since its initial implementation.
In contrast, Laos and Myanmar face the highest tariffs in the region, with both countries subject to a 40 per cent rate.
-- BERNAMA