No 'retaliatory measures' against US: ASEAN economic ministers | ABS-CBN

ADVERTISEMENT

dpo-dps-seal
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!

No 'retaliatory measures' against US: ASEAN economic ministers

Agence France-Presse

 | 

Updated Apr 10, 2025 06:00 PM PHT

Clipboard

Economic ministers of the ASEAN regional bloc committed on Thursday "to not impose any retaliatory measures" against the United States over sweeping tariffs and said they were ready to engage in talks.

"ASEAN, being the fifth largest economy in the world, is deeply concerned over the recent introduction of unilateral tariffs by the U.S., including the tariffs announced on 2 April 2025 and subsequently the most recent suspension on 9 April 2025," the Association of Southeast Asian ministers said in a statement issued after a video conference meeting.

Despite their concern, the ministers said they were ready "to engage in a frank and constructive dialogue with the U.S. to address trade-related concerns".

"Open communication and collaboration will be crucial to ensuring a balanced and sustainable relationship. In that spirit, ASEAN commits to not impose any retaliatory measures in response to the U.S. tariffs," they said.

ADVERTISEMENT

The special meeting was chaired by Malaysia's Minister of Investment, Trade and Industry Tengku Zafrul Aziz. Malaysia holds the rotating chair of the 10-member regional bloc.

Its members, which count on the United States as their main export market, were among those hit with the toughest levies by US President Donald Trump.

Manufacturing powerhouse Vietnam was hit with a 46 percent tariff on exports to the United States while neighbouring Cambodia -- a major producer of low-cost clothing for big Western brands -- was slapped with a 49 percent duty.

The other ASEAN members hit with hefty tariffs are Laos (48 percent), Myanmar (44 percent), Thailand (36 percent) and Indonesia (32 percent).

Malaysia, Southeast Asia's third-largest economy, was hit with a lower tariff of 24 percent.

Brunei also faces a 24 percent tariff, while the Philippines was hit with 17 percent and Singapore 10 percent.

ADVERTISEMENT

ADVERTISEMENT

It looks like you’re using an ad blocker

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by disabling your ad blocker on our website.