Washington: The U.S. tariff rate on goods imported from Malaysia has been reduced to 19 percent from the initially planned 25 percent. This change is set to take effect on Friday.

According to Namibia Press Agency, the revised tariff rate will be applicable to goods entered for consumption or withdrawn from a warehouse for consumption starting seven days after the date of the order. This adjustment aims to alleviate the financial impact on importers and consumers dealing with Malaysian goods.

The statement from the White House clarified that the new tariff rate will not be applicable to goods already loaded onto vessels and in transit in their final mode of transport before the stipulated time. These goods must be entered for consumption or withdrawn from warehouses for consumption before October 5 to be exempt from the new rate.