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

EUR -
AED 4.148313
AFN 79.058017
ALL 97.933414
AMD 434.18721
ANG 2.021266
AOA 1036.227749
ARS 1283.282108
AUD 1.760832
AWG 2.034334
AZN 1.924185
BAM 1.953899
BBD 2.277784
BDT 137.406309
BGN 1.957364
BHD 0.425851
BIF 3315.357032
BMD 1.129401
BND 1.457363
BOB 7.795588
BRL 6.45882
BSD 1.128102
BTN 96.95167
BWP 15.223851
BYN 3.691808
BYR 22136.262247
BZD 2.265945
CAD 1.56443
CDF 3235.734335
CHF 0.935048
CLF 0.027752
CLP 1064.96875
CNY 8.136548
CNH 8.131055
COP 4716.8309
CRC 573.34216
CUC 1.129401
CUP 29.92913
CVE 110.157821
CZK 24.890914
DJF 200.717911
DKK 7.459813
DOP 66.585215
DZD 149.833191
EGP 56.350117
ERN 16.941017
ETB 152.850452
FJD 2.561651
FKP 0.840033
GBP 0.840941
GEL 3.094314
GGP 0.840033
GHS 13.141922
GIP 0.840033
GMD 81.316944
GNF 9772.491732
GTQ 8.659575
GYD 236.015142
HKD 8.841573
HNL 29.364302
HRK 7.520121
HTG 147.616375
HUF 403.23567
IDR 18480.390773
ILS 4.061045
IMP 0.840033
INR 97.100884
IQD 1477.862096
IRR 47576.022906
ISK 144.800731
JEP 0.840033
JMD 179.265581
JOD 0.800786
JPY 162.466585
KES 145.915692
KGS 98.76579
KHR 4515.706345
KMF 490.718171
KPW 1016.495522
KRW 1558.065214
KWD 0.346647
KYD 0.940065
KZT 571.364084
LAK 24383.951477
LBP 101080.190239
LKR 337.701429
LRD 225.61549
LSL 20.339211
LTL 3.334828
LVL 0.683163
LYD 6.163004
MAD 10.422559
MDL 19.58994
MGA 5069.954897
MKD 61.532417
MMK 2371.577317
MNT 4039.839497
MOP 9.093351
MRU 44.661546
MUR 51.331326
MVR 17.460825
MWK 1956.053535
MXN 21.816698
MYR 4.823104
MZN 72.180636
NAD 20.339211
NGN 1795.499232
NIO 41.509613
NOK 11.505
NPR 155.119641
NZD 1.914126
OMR 0.434822
PAB 1.128087
PEN 4.149063
PGK 4.624501
PHP 62.89071
PKR 318.124876
PLN 4.249203
PYG 8997.246017
QAR 4.123288
RON 5.062204
RSD 117.10606
RUB 89.985494
RWF 1615.991929
SAR 4.236362
SBD 9.431366
SCR 16.056935
SDG 678.198844
SEK 10.874214
SGD 1.458785
SHP 0.887532
SLE 25.659283
SLL 23682.977343
SOS 644.664204
SRD 41.392486
STD 23376.323244
SVC 9.870396
SYP 14684.602748
SZL 20.336214
THB 37.100529
TJS 11.489467
TMT 3.958551
TND 3.374816
TOP 2.645174
TRY 44.08934
TTD 7.66754
TWD 33.958866
TZS 3046.56018
UAH 46.82614
UGX 4118.992375
USD 1.129401
UYU 46.924344
UZS 14595.798835
VES 107.119773
VND 29337.888585
VUV 136.930897
WST 3.042429
XAF 655.310704
XAG 0.034106
XAU 0.000342
XCD 3.052264
XDR 0.813399
XOF 655.319399
XPF 119.331742
YER 275.404634
ZAR 20.316831
ZMK 10165.964957
ZMW 30.769743
ZWL 363.666705
  • RBGPF

    66.2000

    66.2

    +100%

  • CMSC

    -0.0900

    21.96

    -0.41%

  • RYCEF

    -0.0400

    11.27

    -0.35%

  • SCS

    0.1400

    10.15

    +1.38%

  • NGG

    0.0600

    73.63

    +0.08%

  • GSK

    0.3800

    38.92

    +0.98%

  • CMSD

    -0.0600

    21.73

    -0.28%

  • BCC

    0.0000

    87.33

    0%

  • RELX

    -0.1200

    54.98

    -0.22%

  • RIO

    -0.8600

    61.12

    -1.41%

  • AZN

    0.2700

    69.95

    +0.39%

  • VOD

    0.1200

    10.54

    +1.14%

  • JRI

    -0.0800

    12.64

    -0.63%

  • BCE

    0.0000

    21.47

    0%

  • BP

    0.0600

    28.94

    +0.21%

  • BTI

    0.1400

    44.6

    +0.31%

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