Southeast Asian countries must accelerate regional economic integration, diversify their markets and stand united to deal with the effects of global trade disruptions from a massive U.S. tariff hike, Malaysian Foreign Minister Mohamad Hassan said at the opening of a meeting of foreign ministers from the Association of Southeast Asian Nations (ASEAN), the Associated Press reported, BTA reported.
He also reiterated the regional bloc's call for warring parties in Myanmar to end hostilities in the deadly civil war that has killed thousands and displaced millions. Myanmar's military seized power in 2021.
"ASEAN countries are among the hardest hit by the US tariffs. The US-China trade war is dramatically disrupting global production and trade patterns. It is likely to lead to a slowdown in the global economy," Mohammad stressed. "We need to seize this moment to deepen regional economic integration so that we can better protect our region from external shocks."
ASEAN countries, many of which rely on exports to the US, have been hit hard by the Trump administration's tariffs, which range from 10% to 49%. Six of the 10 member states are among the hardest hit, with tariffs ranging from 32% to 49%.
ASEAN has unsuccessfully tried to hold an initial meeting with the United States. After US President Donald Trump announced a 90-day suspension of tariffs last month, countries including Malaysia, Indonesia, Thailand and Vietnam quickly began trade talks with Washington.
The foreign ministers’ meeting comes ahead of a summit of ASEAN leaders scheduled for tomorrow in Malaysia, which holds the bloc’s rotating presidency. A summit is expected to follow on Tuesday with Chinese Premier Li Keqiang and leaders of the Gulf Cooperation Council, which includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.