MITI Minister To Contact Us Counterpart On ART, Says Fahmi
PUTRAJAYA, Feb 27 (Bernama) -- The Minister of Investment, Trade and Industry Datuk Seri Johari Abdul Ghani will liaise with his US counterpart regarding the implications of the US Supreme Court ruling on the Agreement of Reciprocal Trade (ART) and the new tariffs announced by US President Donald Trump.
MADANI Government spokesman Datuk Fahmi Fadzil, who is Communications Minister, said the Cabinet would await the outcome of the discussions before making any decision.
“The Minister of Investment, Trade and Industry has provided the latest information (to the Cabinet).
“He has informed that he will be in touch with his US counterpart next week regarding this matter,” Fahmi said at the weekly media conference here today.
On Feb 20, the media reported that the Supreme Court had struck down most of Trump's previously introduced tariff measures, ruling that he did not have the authority under US law to unilaterally impose blanket tariffs.
Malaysia has signed the Agreement on Reciprocal Trade (ART) with the US but has not ratified the agreement.
The US is Malaysia's major trading partner with a gross domestic product of approximately US$31 trillion.
By 2025, total trade between the two countries has reached around RM367 billion, including RM233 billion in Malaysian exports to the US.
-- BERNAMA