Malaysia will maintain a ban on the export of raw rare earths to protect its domestic resources, despite signing a critical minerals deal with the United States this week, the trade minister said on Wednesday.

With politicians from both sides of the aisle raising concerns on the deal, a hearing will be held next month by the Parliamentary Special Select Committee on International Relations and International Trade.

The White House has imposed a total tariff rate of 50% on Brazilian products, citing the criminal prosecution of former President Jair Bolsonaro, a Trump ally.

The budget contains few surprises, putting the country in a good position to face the uncertainty of the current global economic climate.

Malaysia’s improved bilateral relationship with the US has strengthened the Southeast Asian country’s position in its negotiation on potential semiconductor tariffs, according to a minister.

Malaysia is staking its future on becoming an AI Nation as its core growth strategy, weaving AI into the fabric of its economy, governance and urban life.

IEA indicates that Malaysia is critical for future rare earth refining and ASEAN and Austrlia have critical mining, reserves and refining of rare earths.

The summit and its associated meetings, which will be held during October 26-28, are shaping up as the most significant in years.

Lynas Rare Earths will build a new heavy rare-earth separation facility in Malaysia to meet demand from buyers looking to source the critical minerals from outside of China.