According to the transaction conditions, Petrolam Nasional Berhad will buy a $ 3.4 billion -liquefied natural gas from the United States each year. In addition, Malaysia promised to invest $ 70 billion in the US economy in the next five years. These steps should help reduce the deficit between the two countries with $ 24.8 billion in favor of Malaysia in 2024.
One of the results of the negotiations was a decrease in the importation tariff previously planned from Malaysia – instead of 25% of the USA, the United States will bring a fee of 19% from August 8%. Malaysia will also make concessions: 98.4% of American goods will be canceled or reduced, and some CT companies for some recipe restrictions will be specially issued.
Malaysia has been exempted from tasks for pharmaceutical products and semiconductors supplied in the United States. The country’s officials also hopes to relieve additional relief for the export of cocoa, rubber and palm oil.
However, despite the agreements, the Malaysian government warns that the products of the semiconductor industry may enter the US additional restrictions for national security.
Source: Ferra
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