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The lack of movement in the US contrasts with the global economic superpower's ongoing engagement with Indonesia, Vietnam and the Philippines, which are reportedly in early-stage talks on tariff exemptions under the same regime.
“This is a safeguard to protect Malaysia’s status as a responsible trade partner,” the ministry said in a statement issued on 14 July. “Firms found violating these controls will face legal action.”
Indonesian President Prabowo Subianto described the deal as a win for economic sovereignty. “We agreed to deepen the Comprehensive Economic Partnership Agreement or CEPA to open up greater opportunities for sustainable trade and investment in the country,” Subianto wrote on Facebook.