Malaysia not a ‘trade cheat’ to US

Malaysia practices free and fair trade policies. The US is an important trading partner of Malaysia but President Donald Trump is making a serious allegation against Malaysia, he said.
Due to the seriousness of the allegation, the ministry is collecting data and would be making a public announcement through Malaysia External Trade Development Corporation to rectify the allegation.
Trump signed an executive order last week requesting the Commerce Department to submit an investigative report on the US trade deficit in 90 days, as the trade deficit reached US$502.3 billion (Bt17.4 trillion) last year.
Countries identified are China, Japan, Germany and the Asean countries of Vietnam, Malaysia, Thailand and Indonesia. 
Mustapa said the data indicated that the trade deficit between Malaysia and the US was $6 billion, much smaller than the figures revealed by the US.
He was speaking to reporters after attending the “Malaysia and Britain: Partners in a post-Brexit world” panel discussion yesterday. 
The US is Malaysia’s third largest trading partner after China and Singapore. Mustapa hopes the incident would not affect bilateral trade.
He stresses that he appreciates investment from the US and would continue to maintain good ties with investors. 
Investment by the US in Malaysia focuses on the electronic, electric, technology, medical equipment and aviation industries. 
“Malaysia is a supporter of fair and free trade. No manipulation of currencies nor violating World Trade Organisation regulations. 
“We are confident that the ties between Malaysia and the US will continue to develop.”
Earlier International and Trade Minister II Ong Ka Chuan said Malaysia’s exports to the US are electronic and electric products mainly produced by American companies in Malaysia.