ASEAN leaders address US tariffs at Kuala Lumpur trade talks
Just before the meeting began, US President Donald Trump announced sweeping tariffs ranging from 25 per cent to 40 per cent on 14 countries, including several ASEAN economies. Vietnam, Cambodia, Laos, and Myanmar saw reduced rates from initial April proposals, while Indonesia and Thailand maintained their existing tariffs. The Philippines, Singapore, and Brunei await final decisions.
Malaysia, facing a revised 25 per cent tariff effective August 1, remained pragmatic. Prime Minister Datuk Seri Anwar Ibrahim emphasised negotiations with the US while reinforcing Malaysia's neutral stance. 'No. While the US is an important trading partner, we will also strengthen our ties with China, ASEAN countries, and others to safeguard our people's interests,' he stated after meeting US Secretary of State Marco Rubio.
ASEAN Secretary-General Kao Kim Hourn confirmed plans for a joint meeting of foreign and economic ministers ahead of the 47th ASEAN Summit in October. 'ASEAN continues to pursue constructive engagement and negotiation with the United States,' he said, highlighting ongoing efforts to diversify trade through agreements with China, Japan, Korea, and others.
Malaysian Foreign Minister Datuk Seri Mohamad Hasan stressed the urgency of intra-ASEAN coordination. 'We need to be more efficient, as the world has changed dramatically. The best approach now is through collective ASEAN action,' he said.
Despite external pressures, ASEAN's economic outlook remains strong, with intra-ASEAN trade hitting US$800 billion in 2024. Progress continues on the ASEAN-China Free Trade Area (ACFTA 3.0) and the ASEAN Digital Economy Framework Agreement, with legal work nearing completion.
The meeting underscored ASEAN's commitment to a rules-based trading system while navigating global uncertainties. As Anwar noted, 'ASEAN will not be spoken for in absentia,' reinforcing the bloc's determination to shape its economic future. - Bernama
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