ASEAN leaders to show concern over US tariffs
Malaysian Prime Minister Anwar Ibrahim, who is chairing the meeting, said at the outset that ASEAN has displayed resilience amid "increasingly complex and sobering global developments," adding, "The global trading system is under further strain, with the recent imposition of U.S. unilateral tariffs."
The leaders met in Kuala Lumpur as their countries, like others, are set to be hit by Trump's so-called reciprocal tariffs, with U.S. duties on the 10 members of the regional grouping ranging from 10 to 49 percent.
According to the chairman's draft statement, the leaders will warn that the unilateral tariffs pose "complex and multidimensional challenges to ASEAN's economic growth, stability and integration," reaffirming the regional bloc's commitment to a multilateral trading system with the World Trade Organization at its core.
Following Trump's announcement of the tariffs, ASEAN trade ministers held a special virtual meeting in April and said they would not retaliate, which Malaysian trade minister Zafrul Abdul Aziz on Sunday characterized as a prudent stance that has averted an escalation of trade tensions.
Setting the tone ahead of the summit, the ASEAN trade and foreign ministers met separately on Sunday in the Malaysian capital.
ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
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