KUALA LUMPUR: President Donald Trump’s confirmed attendance at the 47th ASEAN Summit suggests there will be “something substantial” to announce, according to an economist.
Williams Business Consultancy founder Geoffrey Williams told Bernama this could potentially be a full free trade agreement with the US that removes reciprocal tariffs.
The economist also anticipated new investment announcements by US businesses during the President’s visit.
Williams expressed hope for positive news regarding zero duty for semiconductors, noting major semiconductor firms like Micron Technology Inc have facilities in Malaysia.
The US currently imposes a general 19% tariff on Malaysian exports, though semiconductor products remain exempt.
“Rare earths are also an important area, and perhaps there will be new US joint-venture opportunities there,“ he said.
Regarding Trump’s first Asian trip since beginning his second presidency, Williams maintained a wait-and-see approach.
He defined success as more trade and investment deals with reduced reciprocal tariffs and non-tariff regulations.
Failure would mean maintaining the status quo or stricter US policies on Chinese goods transshipment through ASEAN countries.
Overall, Williams said the visit would confirm continued cordial relations between Malaysia, ASEAN and the US.
“The US is looking for further concessions on non-tariff barriers to trade,“ he added.
Malaysia holds this year’s ASEAN chairmanship under the theme “Inclusivity and Sustainability”.
The 47th ASEAN Summit will run from October 26 to 28 with participation from all 10 member states and key dialogue partners.
The US remains one of Malaysia’s top trading partners for decades.
Malaysia’s exports to the US grew 18.2% year-on-year to RM166.38 billion from January to September 2025.
Imports from the US increased 11.2% to RM104.50 billion during the same period.
Bilateral trade expanded 15.4% year-on-year to RM270.88 billion in the first nine months of 2025. – Bernama
