AMM sets stage bilateral tariff talks between Asean nations and US, says Tok Mat
He said all member states emphasised that economic concerns differ by country, prompting each to adopt its own approach in discussions with US officials.
'Each country will come up with its own plan and negotiate directly with the US, because until now, I don't think the US, particularly President Donald Trump, wants to block negotiations.
'So, that is why they are sending letters to each individual country, inviting them to come, discuss and negotiate,' he told a press conference at the conclusion of the AMM and related meetings here on Friday.
US President Donald Trump on Monday imposed new tariffs ranging from 25 per cent to 40 per cent on 14 countries and issued an executive order to extend the suspension of 'reciprocal tariffs' until Aug 1.
Among Asean countries, several received lower tariffs than initially announced on April 2.
Vietnam's rate was reduced to 20 per cent from 46 per cent; Cambodia's dropped to 36 per cent from 49 per cent; Laos saw a decrease to 40 per cent from 48 per cent; and Myanmar's rate was revised down to 40 per cent from 44 per cent.
Meanwhile, the US decided to maintain Indonesia's and Thailand's tariff rates at 32 per cent and 36 per cent, respectively, while Malaysia saw an increase to 25 per cent from 24 per cent previously.
However, the US has not yet announced final tariff decisions for the Philippines (17 per cent), Singapore (10 per cent), and Brunei (24 per cent).
Earlier, Asean Secretary-General Dr Kao Kim Hourn said Asean foreign and economic ministers are expected to convene a joint meeting ahead of the 47th Asean Summit in October, as part of efforts to develop a more coordinated regional response to mounting global economic headwinds.
He said while the date has yet to be confirmed, the meeting will be held before the summit, which is scheduled to take place in Kuala Lumpur from Oct 26 to 28.
The Summit Plenary and Retreat are set for Oct 26.
Kao said the decision comes amid growing uncertainties in global trade, adding that Asean member states have already held six rounds of discussions focused on the impact of evolving US trade policies and broader shifts in the global economic landscape.
Meanwhile, following Malaysia's bilateral meeting with US Secretary of State Marco Rubio on the sidelines of the AMM, Mohamad said the US gave the green light for further discussions between Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz and his American counterparts.
'We will continue to discuss to ensure that the interests of the country can be managed well. Our country's exports to the US are large, and 60 per cent of our exports to the US are in the form of electrical and electronic (products). For now, the materials are still being excluded.
'But come August 1, we do not know what (will happen). They only said 25 per cent (tariff), but there is no clarity on the 25 per cent. (Is it) in the same category as what was announced when we were hit by 24 per cent (previously)?' he added.
He said that AMM served as a neutral platform for open dialogue, allowing Asean member states to raise individual concerns, including on trade and tariff issues, with major partners like the US. — Bernama
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