Latest news with #intra-ASEAN
The Sun
4 days ago
- Business
- The Sun
ASEAN leaders address US tariffs at Kuala Lumpur trade talks
KUALA LUMPUR: The 58th ASEAN Foreign Ministers' Meeting concluded with discussions dominated by the United States' new tariff policies, as regional leaders sought to strengthen trade unity. Held under Malaysia's 2025 ASEAN Chairmanship, the four-day meeting brought together foreign ministers and economic partners to address shifting global trade dynamics. 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
The Sun
6 days ago
- Business
- The Sun
ASEAN must tackle global challenges together
BANGKOK: ASEAN must work together to boost intra-regional trade and deepen cooperation to navigate an increasingly complex global political and economic landscape, said Thailand's Foreign Minister, Maris Sangiampongsa. Alongside intergovernmental collaboration, he said the private sector also plays a crucial role in overcoming these challenges. 'Amidst a complex global political and economic landscape, I stressed that ASEAN must work together to confront these challenges, particularly by strengthening intra-ASEAN trade, as we represent a combined market of nearly 700 million people,' he posted on his official X account on Thursday. He added that ASEAN members should work together to enhance collaboration among the region's business communities. Maris is currently in Kuala Lumpur for the 58th ASEAN Foreign Ministers' Meeting (AMM) and related meetings, including the AMM Plenary Session and Retreat Session, which began on Tuesday. During the Plenary Session, Maris said ASEAN members exchanged views on strengthening and fostering a more cohesive ASEAN Community. 'I also emphasised the growing threat of transnational crimes in our region, particularly online scams, which undermine ASEAN's community-building efforts. In this regard, I called for stronger regional cooperation to tackle these threats effectively,' he said. At the Retreat Session, Maris said discussions focused on reinforcing ASEAN unity, including pursuing a collective ASEAN approach to the situation in Myanmar. 'The meeting recognised the importance of achieving a ceasefire in Myanmar, as well as organising a joint visit by the Foreign Ministers of Malaysia, as the current ASEAN Chair, along with Indonesia and the Philippines, as incoming Chairs, in the coming months to explore ways to facilitate humanitarian assistance,' he added. Meanwhile, the Thai Foreign Minister also held a bilateral meeting with Norway's State Secretary, Andreas Kravik. Maris said the discussion focused on deepening bilateral cooperation, particularly in trade and investment, including the possibility of Norway's sovereign wealth fund - the largest in the world - investing in Thailand's Land Bridge project. 'Norway is a global leader in the green transition, from which Thailand can learn and adapt in order to help the Thai private sector move towards carbon neutrality,' he said. The 58th AMM and related meetings, held under Malaysia's ASEAN Chairmanship for 2025 with the theme 'Inclusivity and Sustainability', comprise 24 ministerial-level meetings involving ASEAN Dialogue Partners and Sectoral Dialogue Partners. – Bernama
Time of India
6 days ago
- Business
- Time of India
Malaysian PM warns Southeast Asia that trade war is not a 'passing storm'
Malaysian prime minister KUALA LUMPUR: Malaysian Prime Minister Anwar Ibrahim warned Wednesday that global trade is being weaponized as Southeast Asia's foreign ministers held annual talks ahead of the looming threat of US trade tariffs. Concerns about US tariffs have jolted the association of Southeast Asian nations, a 10-member bloc that includes some of the world's most trade-dependent economies. Eight ASEAN members are among countries that could see duties on their exports to the US skyrocket on August 1. Launching the group's foreign ministers' meeting, Anwar said the world is now witnessing an era where "power unsettles principle" and "tools once used to generate growth are now wielded to pressure, isolate and contain." Without mentioning the US by name, he again urged ASEAN to work together to respond to trade threats. "Our cohesion must not end at declarations," he said, calling for members to increase intra-ASEAN trade, invest in regional integration, and reduce strategic dependencies on external powers. "This is no passing storm," he said. "It is the new weather of our time." Trump first announced tariffs in April, but then delayed them for 90 days to allow for deals to be negotiated. On Monday and Wednesday, he announced new tariffs with rates of between 20 per cent- 40 per cent on a list of countries, which will go into effect August 1 unless new deals are struck. He also threatened to increase tariffs if any countries retaliate. Many ASEAN members have launched bilateral talks with the US, but officials have said they plan to hold an ASEAN- US summit later this year to seek a common position. So far, only Vietnam has secured a deal, bringing down its tariffs from 46 per cent to 20 per cent. The lists threaten 36 per cent tariffs for Thailand and Cambodia, 32 per cent for Indonesia, 25 per cent for Malaysia and Brunei, 20 per cent for the Philippines, and 40 per cent for Laos and war-torn Myanmar. Reacting to the economic headwinds, Malaysia's central bank on Wednesday cut its benchmark interest rate for the first time in five years. Separately, trade minister Zafrul Aziz said Malaysia will continue tariff talks with the US but won't compromise on issues impacting national interest and sovereignty. He referred to US requests on policy and laws in areas such as government procurement, halal certification, medical standards and digital tax, without giving details. "It has to be fair ... if the deal does not benefit Malaysia, we should not have a deal," he said. In addition to confronting trade fallout, the bloc faces mounting internal challenges including the ongoing civil war in Myanmar and a border dispute between Thailand and Cambodia. The gathering in Malaysia will be immediately followed by a series of critical meetings with ASEAN's major trade partners, including the US, China, Japan, Russia, India, and the European Union, scheduled for Thursday and Friday. US Secretary of State Marco Rubio, who last week cancelled trips to Japan and South Korea, arrived Thursday for the talks as part of his first visit to Asia since taking office. Others visiting foreign ministers include China's Wang Yi and Sergei Lavrov of Russia. Analysts said these talks will test ASEAN's ability to assert its voice amid escalating geopolitical tensions. The bloc hopes to reinforce its commitment to a rules-based trade order while resisting pressure to align exclusively with any one global power. "ASEAN must be among those who choose to stand for rules, even when others choose retreat," Anwar said. Officials said the premier will meet Rubio to discuss the tariff issue. Analysts said Rubio's presence signaled renewed US engagement in the region. It will be a reminder to "the region that Washington remains its most vital economic and security partner," said Collins Chong Yew Keat, a foreign affairs, strategy and security analyst with Universiti Malaya. But he said that US support may now come with clearer expectations. "Trump's administration, while still offering the strongest military deterrence and market access, expects ASEAN to stop exploiting this security umbrella while cozying up economically to China," he said.
Yomiuri Shimbun
7 days ago
- Business
- Yomiuri Shimbun
Southeast Asian Foreign Ministers Meet as US Tariffs Loom
KUALA LUMPUR, Malaysia (AP) — Malaysian Prime Minister Anwar Ibrahim warned Wednesday that global trade is being weaponized as Southeast Asia's foreign ministers opened an annual meeting while facing the looming threat of U.S. trade tariffs. The threat of U.S. tariffs has jolted the Association of Southeast Asian Nations, a 10-member bloc that includes some of the world's most trade-dependent economies. Six ASEAN members are among the 14 countries that could see duties on their exports to the U.S. skyrocket on Aug. 1. Launching the Association of Southeast Asian Nations foreign ministers' meeting, Anwar said the world is now witnessing an era where 'power unsettles principle' and 'tools once used to generate growth are now wielded to pressure, isolate and contain.' Without mentioning the U.S. by name, he again urged ASEAN to work together to respond to trade threats. 'Our cohesion must not end at declarations,' he said, calling for members to increase intra-ASEAN trade, invest in regional integration, and reduce strategic dependencies on external powers. 'This is no passing storm,' he said. 'It is the new weather of our time.' Trump first announced tariffs in April, but then delayed them for 90 days to allow for deals. On Tuesday, he announced new tariff with rates of between 25%-40% on 14 countries, which will go into effect Aug. 1 unless new deals are struck. He also threatened to increase tariffs if any countries retaliate. Many ASEAN members have launched bilateral talks with the U.S., but officials have said they plan to hold an ASEAN-U.S. summit later this year to seek a common position. So far, only Vietnam has secured a deal, bringing down its tariffs from 46% to 20%. The list threatens 36% tariffs for Thailand and Cambodia, 32% for Indonesia, 25% for Malaysia, and 40% for Laos and war-torn Myanmar. In addition to confronting trade fallout, the bloc faces mounting internal challenges. The ongoing civil war in Myanmar and a border dispute between Thailand and Cambodia are also on the agenda. The gathering in Malaysia will be immediately followed by a series of critical meetings with ASEAN's major trade partners, including the United States, China, Japan, Russia, India, and the European Union, scheduled for Thursday and Friday. U.S. Secretary of State Marco Rubio, who last week cancelled trips to Japan and South Korea, will arrive Thursday for the talks on his first visit to Asia. Others visiting foreign ministers include China's Wang Yi and Sergei Lavrov of Russia. Analysts said these talks will test ASEAN's ability to assert its voice amid escalating geopolitical tensions. The bloc hopes to reinforce its commitment to a rules-based trade order while resisting pressure to align exclusively with any one global power. 'ASEAN must be among those who choose to stand for rules, even when others choose retreat,' Anwar said. Analysts said Rubio's presence signaled renewed U.S. engagement in the region. It will be a reminder to 'the region that Washington remains its most vital economic and security partner,' said Collins Chong Yew Keat, a foreign affairs, strategy and security analyst with Universiti Malay. But he said that U.S. support may now come with clearer expectations. 'Trump's administration, while still offering the strongest military deterrence and market access, expects ASEAN to stop exploiting this security umbrella while cozying up economically to China,' he said.
Asahi Shimbun
7 days ago
- Business
- Asahi Shimbun
Southeast Asian foreign ministers meet as U.S. tariffs loom
Vietnam's Foreign Minister Bui Thanh Son attends a plenary session of the Association of Southeast Asian Nations (ASEAN) Foreign Ministers' meeting at the Convention Centre in Kuala Lumpur on July 9. (AP Photo) KUALA LUMPUR--Malaysian Prime Minister Anwar Ibrahim warned Wednesday that global trade is being weaponized as Southeast Asia's foreign ministers opened an annual meeting while facing the looming threat of U.S. trade tariffs. The threat of U.S. tariffs has jolted the Association of Southeast Asian Nations, a 10-member bloc that includes some of the world's most trade-dependent economies. Six ASEAN members are among the 14 countries that could see duties on their exports to the U.S. skyrocket on Aug. 1. Launching the Association of Southeast Asian Nations foreign ministers' meeting, Anwar said the world is now witnessing an era where 'power unsettles principle' and 'tools once used to generate growth are now wielded to pressure, isolate and contain.' Without mentioning the U.S. by name, he again urged ASEAN to work together to respond to trade threats. 'Our cohesion must not end at declarations,' he said, calling for members to increase intra-ASEAN trade, invest in regional integration, and reduce strategic dependencies on external powers. 'This is no passing storm,' he said. 'It is the new weather of our time.' Trump first announced tariffs in April but then delayed them for 90 days to allow for deals. On Tuesday, he announced new tariff with rates of between 25%-40% on 14 countries, which will go into effect Aug. 1 unless new deals are struck. He also threatened to increase tariffs if any countries retaliate. Many ASEAN members have launched bilateral talks with the U.S., but officials have said they plan to hold an ASEAN-U.S. summit later this year to seek a common position. So far, only Vietnam has secured a deal, bringing down its tariffs from 46% to 20%. The list threatens 36% tariffs for Thailand and Cambodia, 32% for Indonesia, 25% for Malaysia, and 40% for Laos and war-torn Myanmar. In addition to confronting trade fallout, the bloc faces mounting internal challenges. The ongoing civil war in Myanmar and a border dispute between Thailand and Cambodia are also on the agenda. The gathering in Malaysia will be immediately followed by a series of critical meetings with ASEAN's major trade partners, including the United States, China, Japan, Russia, India, and the European Union, scheduled for Thursday and Friday. U.S. Secretary of State Marco Rubio, who last week cancelled trips to Japan and South Korea, will arrive Thursday for the talks on his first visit to Asia. Others visiting foreign ministers include China's Wang Yi and Sergei Lavrov of Russia. Analysts said these talks will test ASEAN's ability to assert its voice amid escalating geopolitical tensions. The bloc hopes to reinforce its commitment to a rules-based trade order while resisting pressure to align exclusively with any one global power. 'ASEAN must be among those who choose to stand for rules, even when others choose retreat,' Anwar said. Analysts said Rubio's presence signaled renewed U.S. engagement in the region. It will be a reminder to 'the region that Washington remains its most vital economic and security partner,' said Collins Chong Yew Keat, a foreign affairs, strategy and security analyst with Universiti Malay. But he said that U.S. support may now come with clearer expectations. 'Trump's administration, while still offering the strongest military deterrence and market access, expects ASEAN to stop exploiting this security umbrella while cozying up economically to China,' he said.
