US RECIPROCAL TARIFFS OPEN DOOR TO STRONGER INTRA-ASEAN TRADE -- LAZARO
By Zufazlin Baharuddin
KUALA LUMPUR, July 9 (Bernama) -- The imposition of the new reciprocal United States tariff could present a greater opportunity to strengthen intra-ASEAN trade, said Philippines Foreign Affairs Secretary Ma. Theresa P. Lazaro.
She emphasised fostering regional resilience and ASEAN unity over individual advantage, although the Philippines may face lower tariffs compared to some other ASEAN countries.
“The meaning of all of these issues on tariffs just gives us a direction, and the direction is to strengthen intra-ASEAN trade.
“I believe that ASEAN's relationship with the US, along with the principles of non-retaliation and cooperation, is crucial. We need to work together and engage in negotiations. While these discussions may be bilateral, they also pertain to ASEAN as a whole,” she told Bernama and Free Malaysia Today on the sidelines of the 58th ASEAN Foreign Ministers’ Meeting (AMM) here today.
US President Donald Trump on Monday imposed new tariffs ranging from 25 per cent to 40 per cent on 14 countries and issued an executive order to extend the suspension of “reciprocal tariffs” until August 1.
Among ASEAN countries, several received lower tariffs than initially announced on April 2. Vietnam’s rate was reduced to 20 per cent from 46 per cent; Cambodia’s dropped to 36 per cent from 49 per cent; Laos saw a decrease to 40 per cent from 48 per cent; and Myanmar’s rate was revised down to 40 per cent from 44 per cent.
Meanwhile, the US decided to maintain Indonesia’s and Thailand’s tariff rates at 32 per cent and 36 per cent, respectively, while Malaysia saw an increase to 25 per cent from 24 per cent previously.
However, the US has not yet announced final tariff decisions for the Philippines (17 per cent), Singapore (10 per cent), and Brunei (24 per cent).
It was reported that the US Ambassador to the Philippines, MaryKay Carlson, said that both countries are working diligently to finalise a trade agreement, as Manila continues negotiations on the reciprocal tariffs imposed on the country.
The 58th AMM and related meetings are taking place from July 8 to 11 under Malaysia’s ASEAN chairmanship 2025, themed “Inclusivity and Sustainability”, featuring 24 ministerial-level meetings involving ASEAN Dialogue Partners and Sectoral Dialogue Partners.
The four-day high-level event brings together around 1,500 delegates, including foreign ministers of ASEAN countries, Timor-Leste’s foreign minister, ASEAN Dialogue Partners, ASEAN Regional Forum (ARF) participants, Sectoral Dialogue Partners, and senior ASEAN Secretariat officials.
This marks the fifth time Malaysia has held the ASEAN chairmanship since joining the regional bloc, having previously done so in 1977, 1997, 2005, and 2015.
-- BERNAMA
