During his negotiations with America. Malaysia is looking for zero customs -duties

Malaysia is negotiating with the United States to reduce the customs duties that imposed it to zero, from 24% that President Donald Trump promised to implement, according to the Minister of Investment, Trade and Industry, Zafar Aziz. On the other hand, Washington from Malaysia wants to address the imbalances of the trade balance, not remove customer barriers and ensure that US technology is converted to other parties or investments, according to what Zafar said at a press conference in Kuala Lumpur on Monday. He added that the state investment companies have about $ 45 billion on US bonds. He said: “During the discussions, we made it clear that our purpose is to reduce the customs tariff to scratch, and if possible, without any customs fees.” He added: “And if we can’t achieve it, at least we hope to reduce customs duties on the important sectors.” The increase in Malaysian exports to America, Malaysian Prime Minister Anwar Ibrahim, said earlier on Monday that the possibility exists that the United States will reduce customs duties on Malaysian goods, but added that no final agreement has been reached yet, and that negotiations are still underway. Zafarol led its country’s delegation in negotiations with US trade representatives last month. Zafarol said the future Malaysian trading data would probably not be as strong as in March, when companies would quickly export well before the fees came into effect. He added that exports of the country increased by 6.8% in March, while exports to the United States increased by 50.8%, which is the highest rate in four months. In April, Trump aimed for 90 days the freezing point of customs duties, while at the same time imposing a 10% tax on the goods imported from Malaysia and many other commercial partners.