China urges ASEAN unity as US tariffs threaten regional trade - PRESS AI WORLD
PRESSAI
World News

China urges ASEAN unity as US tariffs threaten regional trade

share-iconPublished: Tuesday, July 08 share-iconUpdated: Thursday, July 10 comment-icon4 months ago
China urges ASEAN unity as US tariffs threaten regional trade

Credited from: SCMP

  • China's Foreign Minister promotes regional cooperation to counteract US tariffs.
  • ASEAN nations may face tariffs ranging from 25% to 40% starting August 1.
  • Vietnam has negotiated a lower tariff with the US, contrasted by Cambodia's reduced rate.
  • China criticizes US trade practices, encouraging ASEAN unity and support for free trade.
  • Concerns grow around the increasing politicization of US trade policies with Southeast Asia.

Southeast Asian nations are facing uncertainty as US President Donald Trump threatens new tariffs, prompting China to advocate for regional unity and open trade. Chinese Foreign Minister Wang Yi emphasized the importance of cooperation amongst ASEAN countries, stating, "Together with the ASEAN countries, we will promote the Asian values of peace, cooperation, openness and inclusiveness," during a meeting in Kuala Lumpur, as Trump plans to impose tariffs on goods from various countries in the region starting August 1, with rates varying between 25% and 40% depending on the nation, according to channelnewsasia and bangkokpost.

The US's imposition of higher tariffs directly affects key ASEAN economies, particularly Malaysia, which will see a 25% increase in tariffs, while Laos and Myanmar could be subject to tariffs of up to 40%. In contrast, Cambodia recently negotiated a reduction in its tariff from 49% to 36%, aiming to secure a favorable trade deal with Washington, as reported by scmp and channelnewsasia.

Challenging US tariffs has become politically complex, as the Trump administration utilizes tariffs as negotiating tools, prompting some Southeast Asian countries, like Indonesia and Thailand, to attempt trade discussions to lessen their burden. Indonesian commitments to enhance imports and Thai proposals focusing on long-term trade balance illustrate the proactive measures taken by these nations, while many ASEAN members contend with a shrinking room for negotiation, according to scmp and channelnewsasia.

Wang Yi has called on ASEAN to resist pressures from external forces and to enhance intra-regional cooperation. His statements reflect a broader strategy to counterbalance American influence and assert China's position as a reliable partner amid perceived "unreasonable and immoral" US trade practices. "China is willing to work with ASEAN countries to practice open regionalism and true multilateralism," he asserted, according to bangkokpost and scmp.

In summary, while Southeast Asian nations are navigating the complexities of international trade amid rising US tariffs, China is positioning itself as a partner advocating for regional unity and cooperative trade frameworks. The divergent approaches of the US and China signify a pivotal moment for ASEAN as it seeks stability and growth in a turbulent global economic climate, enhancing the call for a consolidated regional response to external pressures, as highlighted by channelnewsasia and bangkokpost.

SHARE THIS ARTICLE:

nav-post-picture
nav-post-picture