Malaysia, US ink trade deal enhancing America’s access to rare earths

Malaysia inked a trade deal with the US with President Donald Trump in attendance on the sidelines of the 47th Asean Summit on Oct 26, locking in a 19 per cent tariff rate that was agreed back in August.

- Lu Wei Hoong Malaysia Correspondent and Shannon Teoh Malaysia Bureau Chief

The deal included several concessions made by Prime Minister Anwar Ibrahim’s administration, including in the supply of critical minerals to the US, a key plank of ongoing trade negotiations between Washington and Beijing that centres on curbs of advanced technology supply chains.

US Trade Representative Jamieson Greer said the agreement ensures that trade investment in critical minerals between both sides “can be as free as possible and as resilient as possible”.

“We live in a world where having these critical minerals is important to our manufacturing, to our technology and to our economy. It is very important that we cooperate as willing partners with each other to ensure that we can have smooth supply chains.”