kuala lumpur: The confirmation of President Donald Trump’s attendance at the 47th ASEAN summit suggests he will have “something significant” to announce, according to an economist.
Geoffrey Williams, founder of Williams Business Consultancy, told Bernama that this could potentially lead to a full free trade agreement with the US that would remove reciprocal tariffs.
The economist also expected new investment announcements by US businesses during the president’s visit.
Williams expressed hope for positive news regarding zero tariffs for semiconductors, noting that major semiconductor firms such as Micron Technology Inc. have facilities in Malaysia.
The US currently imposes a normal 19% tariff on Malaysian exports, although semiconductor products remain exempt.
“Rare earths are also an important area, and perhaps there will be new U.S. joint venture opportunities there,” he said.
Regarding Trump’s first trip to Asia since the beginning of his second presidency, Williams maintained a wait-and-see approach.
He defined success as more trade and investment deals with lower reciprocal tariffs and non-tariff rules.
Failure would mean maintaining the status quo or tougher US policies on Chinese goods transportation through ASEAN countries.
Overall, Williams said the visit would reaffirm the continued cordial relations between Malaysia, ASEAN and the US.
“The US wants further concessions on non-tariff barriers to trade,” he said.
Malaysia holds this year’s ASEAN chairmanship under the theme “Inclusivity and Sustainability”.
The 47th ASEAN Summit will be held from 26 to 28 October in which all 10 member states and key dialogue partners will participate.
The US has been one of Malaysia’s top trading partners for decades.
Malaysia’s exports to the US from January to September 2025 rose 18.2% year-on-year to RM166.38 billion.
Imports from the US increased by 11.2% to RM104.50 billion during the same period.
Bilateral trade grew 15.4% year-on-year to RM270.88 billion in the first nine months of 2025. – Bernama
