IN THE FACE of the high tariffs the Trump administration is imposing globally, the Association of Southeast Asian Nations (ASEAN) has taken a stand to “break away from business as usual.”
Specifically, the bloc seeks to be “bolder and more agile” to safeguard its interests amid global challenges, according to Malaysia’s Minister of Investment, Trade, and Industry, Zafrul Abdul Aziz.
He made the statement on Sunday after the ASEAN Economic Community Council (AECC) meeting, or ahead of the 46th ASEAN summit on Monday in Kuala Lumpur, Malaysia.
“At the meeting this morning, the AECC deliberated on several pressing issues, including the rising geopolitical tension and the impact of US tariff measures on the ASEAN trading and investment landscape,” Aziz was quoted by the newspaper as saying.
“The AECC council collectively acknowledged that ASEAN would need to break away from the business-as-usual approach. We need to be bolder and more agile with more forward-looking strategies in order to advance and safeguard ASEAN’s socioeconomic interests,” he added.
“The AECC council collectively acknowledged that ASEAN would need to break away from the business-as-usual approach. We need to be bolder and more agile with more forward-looking strategies in order to advance and safeguard ASEAN’s socioeconomic interests,” said Malaysia’s Minister of Investment, Trade, and Industry, Zafrul Abdul Aziz.
UP TO 49% OF TARIFFS
To recall, ASEAN member-states were slapped by tariffs ranging from 10 percent to 49 percent, as ordered by US President Donald Trump who later announced a 90-day pause on the levies. This prompted ASEAN to initiate negotiations with Washington.
For its part, the Philippine government has formed a technical working group (TWG) to continue the discussions with the United States on its reciprocal tariff, Special Assistant to the President for Investment and Economic Affairs (SAPIEA) Secretary Frederick Go said earlier.
“The technical working groups now will be the one to meet. In particular, if you want to know, it’s Undersecretary Allan Gepty of DTI (Department of Trade and Industry) that will be continuing with the discussions with his counterparts at the USTR office,” he said, referring to the United States Trade Representative.
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