LIMA: Malaysia has expressed hope that the United States, under the leadership of Donald Trump, will continue to uphold the principles of free and fair trade, which form the foundation of international economic cooperation.
Prime Minister Datuk Seri Anwar Ibrahim stated that these principles are essential to ensuring trade relationships benefit all parties, including the member countries of the Asia-Pacific Economic Cooperation (APEC).
"Speeches made by APEC leaders generally expressed support for the spirit of free and fair trade.
"We hope that this spirit will be embraced by all, including the US," he said at a press conference held in conjunction with the APEC Economic Leaders' Meeting today.
Anwar, who is also the Finance Minister, said Malaysia seeks open and equitable trade policies, as the country is actively engaged in trade with various nations, including the US.
He added that the significant level of US investments in Malaysia would continue to drive the country's economic growth.
Anwar also stressed the importance of APEC member countries prioritising elements of fair trade, particularly in light of US plans to introduce new tariff policies.
"We may have different focuses in Kuala Lumpur, but the common denominator is to ensure the implementation of free and fair trade," he said.
The prime minister also said Malaysia would continue to champion fair principles in international trade and safeguard the nation's interests.
It was reported that Trump, who secured a resounding victory in the recent US election, has threatened to impose 60 per cent tariffs on goods coming into the US from China, much higher than the 7.5 per cent to 25 per cent levies he imposed during his first term.
In response, China announced that it would retaliate if Trump proceeds with plans to impose the tariffs on imports from China.
The Chinese government said it may also bring the case before the World Trade Organisation. Such a tariff increase, if implemented, would impact the Chinese currency.