Asean must break away from ‘business as usual' amid Trump tariffs, says economic council
KUALA LUMPUR, May 25 — Top trade officials from member states of the Association of South-east Asian Nations (Asean) today agreed that the bloc must 'break away from business as usual', as growing Western protectionist policies threaten to upend growth in the region.
The declaration came after economic leaders from the 10-member bloc met this morning to discuss the Trump administration's so-called reciprocal tariffs on imports, among others, ahead of the main summit tomorrow.
Minister of Investment, Trade and Industry Datuk Seri Tengku Zafrul Abdul Aziz told a press conference after concluding the Asean Economic Community Council that the group felt it has to be 'agile' and 'bolder' amid a volatile global climate.
'At the meeting this morning, the AECC deliberated on several pressing issues, including the rising geopolitical tension and the impact of US tariff measures on the Asean trading and investment landscape,' the senator said.
'The AECC council collectively acknowledged that Asean would need to break away from the business-as-usual approach. We need to be bolder and more agile with more forward-looking strategies in order to advance and safeguard Asean's socio-economic interests.'
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