The Prague Post - US tariff tensions test Southeast Asian leaders at regional summit

EUR -
AED 4.305929
AFN 80.587504
ALL 97.482023
AMD 449.949729
ANG 2.098074
AOA 1075.003468
ARS 1492.350835
AUD 1.784928
AWG 2.112494
AZN 2.000624
BAM 1.956434
BBD 2.368949
BDT 143.426504
BGN 1.954021
BHD 0.441906
BIF 3497.123395
BMD 1.172305
BND 1.503326
BOB 8.106801
BRL 6.481325
BSD 1.17322
BTN 101.541924
BWP 15.752175
BYN 3.839576
BYR 22977.180081
BZD 2.356724
CAD 1.603139
CDF 3386.78968
CHF 0.934215
CLF 0.02843
CLP 1115.389387
CNY 8.386639
CNH 8.40333
COP 4775.736541
CRC 592.707346
CUC 1.172305
CUP 31.066085
CVE 110.300764
CZK 24.542444
DJF 208.917739
DKK 7.464407
DOP 71.18551
DZD 151.802956
EGP 57.515281
ERN 17.584577
ETB 163.273218
FJD 2.629717
FKP 0.866819
GBP 0.871427
GEL 3.176935
GGP 0.866819
GHS 12.259975
GIP 0.866819
GMD 84.406337
GNF 10181.301167
GTQ 9.005073
GYD 245.459587
HKD 9.201985
HNL 30.720961
HRK 7.536161
HTG 153.962547
HUF 396.989449
IDR 19152.18298
ILS 3.934995
IMP 0.866819
INR 101.425144
IQD 1536.898321
IRR 49368.698529
ISK 142.201653
JEP 0.866819
JMD 187.140678
JOD 0.831178
JPY 173.096124
KES 151.57888
KGS 102.339442
KHR 4699.644071
KMF 490.614899
KPW 1055.053684
KRW 1619.961709
KWD 0.357905
KYD 0.977717
KZT 639.323654
LAK 25291.847818
LBP 105122.526535
LKR 353.996858
LRD 235.228277
LSL 20.823062
LTL 3.461512
LVL 0.709116
LYD 6.333053
MAD 10.550221
MDL 19.733398
MGA 5181.812748
MKD 61.582068
MMK 2461.272309
MNT 4205.397817
MOP 9.485676
MRU 46.823182
MUR 53.233685
MVR 18.060835
MWK 2034.359617
MXN 21.772015
MYR 4.948882
MZN 74.980592
NAD 20.822351
NGN 1794.986868
NIO 43.169394
NOK 11.898328
NPR 162.470837
NZD 1.949488
OMR 0.450766
PAB 1.17321
PEN 4.154904
PGK 4.862577
PHP 66.957397
PKR 332.471944
PLN 4.25457
PYG 8787.849357
QAR 4.276587
RON 5.070808
RSD 117.180011
RUB 93.083808
RWF 1695.849859
SAR 4.398039
SBD 9.712659
SCR 17.531383
SDG 703.970098
SEK 11.166804
SGD 1.501899
SHP 0.921248
SLE 26.904737
SLL 24582.65655
SOS 670.528851
SRD 42.895232
STD 24264.348823
STN 24.508574
SVC 10.265328
SYP 15243.347333
SZL 20.815104
THB 37.946927
TJS 11.204328
TMT 4.114791
TND 3.425111
TOP 2.745656
TRY 47.541286
TTD 7.977791
TWD 34.588898
TZS 3004.033248
UAH 49.055206
UGX 4206.50744
USD 1.172305
UYU 46.995238
UZS 14844.813256
VES 140.997122
VND 30649.917
VUV 140.064297
WST 3.209171
XAF 656.186553
XAG 0.030191
XAU 0.000351
XCD 3.168213
XCG 2.11444
XDR 0.813621
XOF 656.169755
XPF 119.331742
YER 282.467248
ZAR 20.792625
ZMK 10552.151583
ZMW 27.365457
ZWL 377.481766
  • RIO

    -0.7750

    63.055

    -1.23%

  • CMSC

    0.0000

    22.43

    0%

  • BTI

    -0.2350

    52.385

    -0.45%

  • SCS

    -0.0100

    10.5

    -0.1%

  • BCC

    0.5300

    86.96

    +0.61%

  • JRI

    -0.0500

    13.1

    -0.38%

  • SCU

    0.0000

    12.72

    0%

  • BCE

    -0.3570

    24.073

    -1.48%

  • CMSD

    -0.0300

    22.82

    -0.13%

  • RBGPF

    7.0000

    75

    +9.33%

  • RYCEF

    -0.3400

    13.16

    -2.58%

  • NGG

    -0.3100

    71.92

    -0.43%

  • BP

    -0.1850

    31.945

    -0.58%

  • GSK

    -0.4950

    37.735

    -1.31%

  • VOD

    -0.1550

    11.365

    -1.36%

  • AZN

    -1.1150

    72.565

    -1.54%

  • RELX

    -0.5600

    53.15

    -1.05%

US tariff tensions test Southeast Asian leaders at regional summit
US tariff tensions test Southeast Asian leaders at regional summit / Photo: Mohd RASFAN - AFP

US tariff tensions test Southeast Asian leaders at regional summit

Southeast Asian leaders will express deep concern over US President Donald Trump's tariff blitz when they meet at a summit Monday, warning that the unilateral move posed huge challenges to economic growth and stability in the region, according to a draft statement seen by AFP.

Text size:

Trump's tariffs has roiled global markets and upended international commerce, and left leaders from the 10-member ASEAN bloc scrambling for ways to limit the fallout on their trade-dependent economies.

The bloc is also caught between the trade battle between their biggest trading partners, the United States and China, on which Washington has heaped the highest tariffs.

According to a draft statement expected to be issued by ASEAN leaders after they meet on Monday, they express "deep concern... over the imposition of unilateral tariff measures".

Trump's measures "pose complex and multidimensional challenges to ASEAN's economic growth, stability, and integration", according to the draft of the ASEAN chairman's statement seen by AFP.

The leaders also "reaffirmed ASEAN's collective commitment" to the global free trading system, it said.

After the bloc's meeting on Monday, the leaders are to hold a one-day summit with China and Middle Eastern oil producers.

The diplomatic dance continues later in the week in neighbouring Singapore, where the Shangri-La Dialogue forum is expected to draw defence chiefs including US Defence Secretary Pete Hegseth, while French President Emmanuel Macron was due to give the keynote speech.

ASEAN, with Malaysia holding its rotating chair this year, has traditionally kept a neutral stance in global power contests but that policy is under strain because of Trump's protectionist moves, analysts say.

Malaysian Prime Minister Anwar Ibrahim has called for a joint ASEAN action plan to address the growing tariff threat.

Anwar said at a pre-summit briefing that, while bilateral talks between member states and the United States would continue, the bloc must present a united front.

"We also have one position as ASEAN in our talks," he said.

The group, Anwar said, "had very practical policies... and what to me is of critical importance is to build that cohesion within ASEAN".

The pressure to shift ASEAN's "friend to all" posture will likely intensify during the follow-up summit on Tuesday when Chinese Premier Li Qiang joins the bloc's leaders and officials from oil-rich Gulf states, observers said.

-'Principled friend' -

Beijing has been courting closer ties with Southeast Asia, positioning itself as a "reliable trading partner" despite tensions with ASEAN members over rival claims in the South China Sea.

Li will attend the first-time summit between ASEAN, Beijing and oil-producing nations including Bahrain, the United Arab Emirates, Qatar and Saudi Arabia.

That follows Chinese President Xi Jinping urging greater cooperation between Beijing and Malaysia "to safeguard the bright prospects of our Asian family" during a Southeast Asian diplomatic charm offensive in April.

Anwar said in return that Malaysia would "remain an unwavering and principled friend to China".

However, anger over US tariffs also meant that ASEAN countries "won't automatically fall in China's arms", a diplomatic source, who asked not to be identified, told AFP.

"It's not a binary situation. ASEAN knows that China is just like the US in that it's a big power which will bully them when it wants to," the source said.

And "while the general consensus is that they are angry at the US... nobody wants to offend Washington either".

James Chin, professor of Asian studies at the University of Tasmania, warned that playing to both the United States and China was a "high-risk strategy".

The danger of staying neutral is "that every single foreign policy action that you take will then be scrutinised" by each opposing power, Chin said.

Others said ASEAN's policy of neutrality remained valid.

"The rest of the world should not have any problem with ASEAN's position to 'be friends with everyone'," said S. Munirah Alatas, a geopolitics specialist at the University of Malaya's Allianz Centre for Governance.

However, she said the bloc still faced tough unresolved challenges, including "hostilities in Myanmar and recurring tensions in the South China Sea".

"But successfully addressing these are not premised on ASEAN's neutral geopolitical position," she said.

Z.Marek--TPP