KUALA LUMPUR: In Malaysia’s capacity as ASEAN chair for 2025, under the ASEAN Economic Community (AEC) pillar, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz will chair a Special ASEAN Economic Ministers’ Meeting on April 10, 2025.
“The meeting is expected to discuss the broader implications of the US tariff measures on regional trade and investment flows, macroeconomic stability, and ASEAN’s coordinated response to uphold the region’s economic interests and long-standing commitment to an open, fair, and rules-based trading system,” said the Ministry of Investment, Trade and Industry (MITI) in a statement here today.
Subsequently, the ASEAN leaders will meet to discuss the ASEAN member states’ way forward and to address and mitigate potential disruptions to regional trade, supply chain networks, and cross-border investments, the MITI said.
This is to ensure that ASEAN continues to be a stable, competitive, and attractive hub for global trade and investment, said the ministry.
ASEAN’s Indo-Chinese member states were the hardest hit by the tariffs, with Cambodia slapped with baseline and retaliatory tariffs totalling 49 per cent, followed by Laos (48 per cent), Vietnam (46 per cent), and Myanmar (44 per cent).
Meanwhile, Thailand was hit with tariffs of 36 per cent, Indonesia 32 per cent, Brunei and Malaysia both at 24 per cent, the Philippines 17 per cent, and Singapore, a baseline tariff of 10 per cent.
According to a fact sheet from the White House dated April 2, 2025, the 10 per cent tariff on all countries will come into effect on April 5, 2025, while the individualised reciprocal higher tariffs on countries with which the US has the largest trade deficits will take effect on April 9, 2025.
All other countries will continue to be subject to the original 10 per cent tariff baseline, it stated.
