Investment, trade and industry minister Johari Ghani says a cost-benefit analysis of the trade deal is being done.
“The US has yet to ratify the deal with us. They are too busy getting Asean (countries) to sign (similar agreements),” he told the Dewan Rakyat.
Johari reiterated that he would get a caucus to review the deal, commonly known as ART, in detail. He said MPs who were not part of the caucus but were keen to take part would also be invited.
Johari also said he was prepared to attend the relevant parliamentary select committee hearing if summoned.
Pressed on whether a cost-benefit analysis had been done, Johari said it is being carried out.
“But it could take between six and 12 months to complete.”
Johari said the study would also look at Malaysia’s trade with the world’s two biggest economies, the US and China, to give MPs a clearer picture of what is at stake.
He said Malaysia sold more to the US than it bought over the past 10 years from 2015 to 2025, leaving a trade surplus of RM518 billion, including RM98 billion in 2025 alone.
In contrast, he said Malaysia bought far more from China than it sold over the same period, leaving a RM606 billion gap, with the gap reaching RM146 billion in 2025.
Malaysia and the US signed the trade agreement when president Donald Trump visited Kuala Lumpur for the Asean summit last year.
Under the agreement, the US will maintain reciprocal tariffs of 19% on Malaysian goods, with certain products enjoying zero tariffs under aligned partner-trade lists.
Malaysia, in turn, committed to providing preferential market access to US industrial exports and not imposing bans or quotas on the export of critical or rare earth minerals to the US. - FMT
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.