Malaysian semiconductor exports are expected to see minimal impact from the recent United States (US) tariff hike, according to Tengku Datuk Seri Zafrul Abdul Aziz, Minister of Investment, Trade and Industry (MITI).
He said Malaysia was exempted from the tariffs imposed by US President Donald Trump.
Zafrul highlighted the strong presence of American investment in Malaysia, totaling RM5.1 billion in the third quarter of 2024, indicating continued interest from companies from the world's largest economy.
A key effort is the 2022 memorandum of cooperation between Malaysia and the US aimed at enhancing the resilience of the semiconductor supply chain.
The US is listed as Malaysia's third largest trading partner in 2024, with trade worth RM324.9 billion.
Zafrul highlighted the government's continued efforts to maintain investor confidence through strategic policies and adherence to international standards.
