KUALA LUMPUR, May 6 – The Investment, Trade and Industry Ministry (MITI) will consider introducing a special incentive package for businesses affected by United States (US) tariff after assessing its impact, in addition to evaluating its effect on the country’s fiscal position.
Its Minister Tengku Datuk Zafrul Abdul Aziz said the government will focus on reciprocal negotiations with the US starting today, with the main objective of ensuring that no tariffs are imposed on the country, particularly in key sectors.
“We may give it until July because, for now, we are focusing on discussions with the US. Whatever the outcome (from the meeting), we will then know the impact.
“At this moment, we know the basic tariff imposed on Malaysia is 10 per cent, but at the same time, there are sectors that are not subject to tariffs.
“So once we know (after the negotiations end), who is affected, which companies are affected, and which parts of the supply chain are affected, that’s when we can make a decision,” he said during a question and answer session in conjunction with MITI’s 1Q 2025 performance report card media briefing.
