Southeast Asian countries are urgently working to mitigate the impact of President Trump's tariffs, which threaten to jeopardize their thriving economies dependent on U.S. trade, while emphasizing non-retaliation strategies.
Southeast Asia Strives for Stability Amid Tariff Turbulence
Southeast Asia Strives for Stability Amid Tariff Turbulence
In a bid to shield their economies, Southeast Asian nations seek consensus with the U.S. amid looming tariffs.
April 10, 2025, 9:30 a.m. ET - Facing hefty tariffs as high as 49 percent imposed by President Trump on goods, Southeast Asian leaders including those from Cambodia and Vietnam are scrambling to respond constructively in hopes of preserving their economic viability. The tariffs threaten to undermine their industries, particularly with exports like sneakers and technology products central to their financial landscape.
In a notable shift, Southeast Asian countries have opted for a conciliatory stance, offering not to retaliate against U.S. measures, a contrast to the strategies taken by China and Europe. On Thursday, it was publicly announced that Trump would pause his reciprocal tariffs, a move attributed to worries about the ensuing market chaos. Reflecting on this pause, Thailand’s finance minister, Pichai Chunhavajira, articulated the necessity of compliance in negotiations, indicating an understanding of the leverage wielded by the U.S. in these discussions.
Gathered in Kuala Lumpur, the economic ministers of the Association of Southeast Asian Nations (ASEAN) reaffirmed their unity in rejecting retaliation, emphasizing the critical importance of a stable and trustworthy global trade environment. The collective sentiment underscored a shared anxiety over the uncertainty that Trump's tariffs introduce, jeopardizing millions of jobs across the region. As the ASEAN bloc navigates these challenges, their diplomatic tandem aims to protect their economies while advocating for cooperative solutions in the face of daunting pressures.
In a notable shift, Southeast Asian countries have opted for a conciliatory stance, offering not to retaliate against U.S. measures, a contrast to the strategies taken by China and Europe. On Thursday, it was publicly announced that Trump would pause his reciprocal tariffs, a move attributed to worries about the ensuing market chaos. Reflecting on this pause, Thailand’s finance minister, Pichai Chunhavajira, articulated the necessity of compliance in negotiations, indicating an understanding of the leverage wielded by the U.S. in these discussions.
Gathered in Kuala Lumpur, the economic ministers of the Association of Southeast Asian Nations (ASEAN) reaffirmed their unity in rejecting retaliation, emphasizing the critical importance of a stable and trustworthy global trade environment. The collective sentiment underscored a shared anxiety over the uncertainty that Trump's tariffs introduce, jeopardizing millions of jobs across the region. As the ASEAN bloc navigates these challenges, their diplomatic tandem aims to protect their economies while advocating for cooperative solutions in the face of daunting pressures.
