Malaysia Seeks 20% US Levy But Resists EVs, Ownership Demands

Malaysia’s government is seeking to lower US tariffs threatened by President Donald Trump to about 20%, but is reluctant to meet certain demands around electric vehicles and foreign ownership, according to people familiar with the matter.

Prime Minister Anwar Ibrahim’s negotiators are seeking a tariff lower than the 25% that takes effect Aug. 1 — aiming for something closer to levels for regional neighbors Indonesia and Vietnam, said the people, who asked not to be identified given the negotiations are ongoing.

So far, Malaysia has made progress addressing US concerns over the smuggling of high-performance semiconductors, but has resisted ...