The Ministers of Finance of the Regional Union of Southeast Asian countries (ASEAN) are on alert to begin the dialogue for them dutieswhile they were pledged today (10.4.2025) “not to impose retaliation measures” on USA.
As stated in a statement from the Union Ministers of the Union, “ASEAN, as the fifth largest economy in the world, is very worried about the recent introduction of unilateral customs duties from the US, whether it is the duties announced on April 2, 2025, or even their latest suspension on April 9”.
Before being announced yesterday (9.4.2025) by US President Donald Trump suspended for 90 days of additional customs duties that had imposed on most of the US trade partners, excluding China, 6 South -Eastern countries targeted by the Southeast Asia. from 32 to 49%.
In comparison, the percentage imposed in the EU was 20%, in Japan 24%and India 27%.
“We express our common intention to commit to a honest and constructive dialogue with the US to deal with concerns about trade. Open communication and cooperation will be crucial to ensure a balanced and sustainable relationship,” the ASEAN ministers added.
It also re -states their support for a predictable, fair and multilateral trade system -based rules.
The 10 -member Union of Southeast Asia countries is collectively the fifth largest economy on the planet. Its members are largely relying on exports as a major source of growth.
Source: RES – EIA