Malaysia Seeks Less than 20% Tariff Ahead of Call With Trump

Malaysia is seeking to lower US tariffs threatened by President Donald Trump to less than 20% and is optimistic of reaching a deal ahead of the Aug. 1 deadline, according to Investment, Trade and Industry Minister Zafrul Aziz.

Prime Minister Anwar Ibrahim will speak with Trump “when we complete the negotiations,” Zafrul told Bloomberg News. The US president has threatened a 25% levy — separate from sectoral tariffs — unless the Southeast Asian nation reaches an agreement with his administration.