Asean voices deep concern over US tariffs, commits to regional economic unity

The Star

5 days ago

KUALA LUMPUR: Asean leaders have voiced deep concern over the United States' recent move to impose unilateral sweeping tariffs, during the 46th Asean Summit.
According to the Chairman's statement issued following the conclusion of the summit on Tuesday, the leaders had affirmed that they will continue to engage the US in a frank and constructive dialogue on the matter and commit not to impose any retaliatory measures in response to US tariffs.
"We express deep concern over the recent announcement by the US to impose unilateral tariffs and their potential impact on our economies.
"The uncertainties arising from these tariffs and potential retaliation could heighten volatility in both capital flows and exchange rates,' the statement read.
Asean leaders reaffirmed the bloc's commitment towards regional unity, economic stability and practical cooperation in navigating external challenges, it said.
They also reaffirm commitment to strengthen financial resilience and accelerate financial integration within Asean, thus supporting greater intra-Asean trade and Investment integration, amid rising global trade tensions.
"We remained committed to Asean as a reliable economic partner and will work to foster a strengthened economic cooperation framework with the US, particularly in high-value and future-oriented sectors,' the statement read.
They also pledged to strengthen and expand economic links with Asean's external partners, including with Dialogue Partners, and to seek out opportunities for cooperation with new partners.
The Asean Summit, which drew leaders and high-level delegations from Asean and partner countries, was held under Malaysia's 2025 Asean Chairmanship theme 'Inclusivity and Sustainability'.
This year marks Malaysia's fifth term as Asean Chair, following previous chairmanships in 1977, 1997, 2005 and 2015. - Bernama