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KUALA LUMPUR: The cabinet approved the joint US-Malaysia statement on a wide-ranging reciprocal trade deal to expand market access and bolster supply chain resilience, says Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

"The joint statement was approved by the cabinet. It is reflective of the agreement," he told a press conference.

Under the deal, Malaysia will grant significant preferential market access for American exports, covering industrial goods such as chemicals, machinery, electrical equipment, metals and passenger vehicles, as well as agricultural products including dairy, poultry, beverages, rice and fuel ethanol.

In return, the US will maintain a 19 per cent tariff on Malaysian goods, as set under Executive Order 14257 and will apply zero tariffs to selected Malaysian products listed under a separate category for aligned partners.

Malaysia also committed to addressing non-tariff barriers that have affected US exports in several industries.