Kuala lumpur: Malaysia is currently negotiating the terms of a memorandum of understanding (MoU) related to the United States tariffs, according to Foreign Minister Datuk Seri Mohamad Hasan. The Ministry of Investment, Trade and Industry (MITI) is conducting these negotiations.

According to BERNAMA News Agency, Mohamad Hasan stated during the Minister's Question Time in the Dewan Rakyat that although the MoU has been signed, specific terms have yet to be negotiated. Once the terms are harmonized, Malaysia plans to ratify the agreement. This statement was made in response to a query from Lim Guan Eng (PH-Bagan) concerning Malaysia's actions in response to the US tariffs.

Mohamad noted that direct negotiations with the US are necessary due to the detailed analysis required on certain matters. In addressing a supplementary question from Wan Ahmad Fayhsal Wan Ahmad Kamal (PN-Machang) about rare earth, Mohamad mentioned discussions on critical minerals with foreign ministers.

He explained that Malaysia currently lacks legislation on critical minerals, though over 60 minerals have been identified as critical. The US, realizing the need for these minerals for advanced technology, intends to form a global bloc to control them, as their technology lags behind another country. The US has proposed forming an alliance and creating stockpiles of critical minerals to Malaysia.

Mohamad emphasized that Malaysia aims to ensure proper management of critical minerals and noted that these minerals are under state authority jurisdiction. He added that Malaysia prohibits the export of raw minerals and instead seeks domestic processing to enhance value.