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By SHYAFIQ DZULKIFLI PETALING JAYA: Asean was ranked as the fourth-largest source of American imports, with the region supplying US$358.56bil worth of goods to the United States in 2024, according to the International Trade Centre (ITC). Data from the ITC’s Trade Map showed that exports from Asean made up 10.67% of the United States’ total import value of US$3.36 trillion last year.  Mexico topped the list as the largest source of US imports at US$509.99bil, followed by China (US$462.64bil) and Canada (US$422.17bil). Vietnam was Asean’s largest exporter to the US, delivering goods valued at US$142.48 bil.  Thailand followed with US$66.01bil, while Malaysia came in third with US$53.85bil in exports. The most in-demand products from Asean included electrical machinery and equipment (US$109.13bil), industrial machinery and mechanical components (US$62.92bil), and furniture-related products like bedding and cushions (US$20.99bil). Malaysia’s export to the US were heavily concent...

By SHYAFIQ DZULKIFLI         PETALING JAYA: US president Donald Trump’s announcement of a 90-day pause on sweeping tariffs has provided more time for countries to negotiate. According to news reports, more than 20 countries as well as the European Union are actively seeking to negotiate the tariffs. Seven other nations which include Asean member countries Vietnam, Thailand, Indonesia and Cambodia have offered concessions. US Treasury Scott Bessent reportedly said that more than 50 nations had begun negotiations with the US but did not disclose the countries involved. On April 2, US president Donald Trump announced reciprocal tariffs for countries and territories worldwide including Malaysia, which was hit with a 24% tariff. On April 10, Trump authorised a universal lowered reciprocal tariff of 10% for 90 days as negotiations continued, but increased tariffs on goods from China to 125%. The following table, based on infor...

 By SHYAFIQ DZULKIFLI           PETALING JAYA: More than 20 countries including Malaysia are actively seeking to negotiate with the United States over newly imposed reciprocal tariffs, in an effort to mitigate potential economic fallout. Japan has dispatched a team to Washington to push for a revision of U.S. tariff policies, while Malaysia is expected to send trade officials to open discussions with American counterparts. So far, seven countries have responded by offering concessions. Vietnam pledged to reduce tariffs on U.S. imports to zero, while Taiwan offered to slash its import tariffs as a starting point for negotiation. Only a handful of the largest exporters have retaliated so far. China, hit with a 34% tariff, responded with an equivalent 34% duty on all U.S. imports — a tit-for-tat move that triggered a sharp escalation. In response, the U.S. administration announced a new 104% tariff on Chinese goods eff...