Southeast Asian Countries Decide Against Retaliatory Tariffs on US
(MENAFN) On Thursday, the countries of Southeast Asia announced that they would not impose retaliatory tariffs on the United States. Instead, they plan to engage in discussions with the Trump administration to resolve trade issues.
A joint statement issued by the economic ministers of the Association of Southeast Asian Nations (ASEAN), meeting in Malaysia, the current chair of the group, emphasized the importance of dialogue.
“We express our common intention to engage in a frank and constructive dialogue with the US to address trade-related concerns,” the statement said.
The statement also stressed that “open communication and collaboration will be crucial to ensuring a balanced and sustainable relationship.” ASEAN affirmed its commitment to not imposing any retaliatory measures in response to the US tariffs, aiming for a cooperative resolution.
The United States leader, Donald Trump, recently announced a 90-day delay for all countries except China, originally set to receive tariffs exceeding the 10 percent baseline by a Wednesday deadline.
In his announcement, Trump also revealed a drastic increase in tariffs on China, raising them to 125 percent. In response, Beijing imposed an additional 84 percent tariff on all US imports.
ASEAN’s decision came as China sought a unified approach with the Southeast Asian nations in opposing US tariffs. Earlier on Thursday, China’s Commerce Minister, Wang Wentao, held a virtual discussion with Malaysia’s Minister of Investment, Trade, and Industry, Tengku Zafrul Abdul Aziz.
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