Malaysian Prime Minister Anwar Ibrahim has called on Southeast Asian nations to unite in response to recent U.S. tariffs that have hit the region hard. Speaking at a staff meeting on Monday, Anwar urged member countries of the Association of Southeast Asian Nations (ASEAN) to “stand firm together” amidst the economic challenges posed by the new levies.
“We must stand firm together as ASEAN—with a population of 640 million and an economic strength that is among the top in the world,” Anwar said, highlighting the collective power of the region. The tariffs imposed by the United States last week have rattled global markets and caused concern among governments worldwide.
The tariffs have particularly affected manufacturing hubs in Southeast Asia. Vietnam, known for its robust manufacturing sector, faces a 46% tariff on its exports to the U.S. Cambodia, a major producer of low-cost clothing for Western brands, has been slapped with a 49% duty. Malaysia, the region’s third-largest economy, faces a 24% tariff.
In response to these developments, Southeast Asian economic ministers are set to meet on Thursday to discuss a collective approach. Anwar emphasized the importance of unity, stating, “Our government’s task is to contact our friends in ASEAN so that each country can state its position, but at the same time, we move together as a group.”
Despite the challenges, Malaysia and other ASEAN members have stated they will not retaliate against the U.S. Malaysia’s Trade Minister Tengku Zafrul Aziz commented, “I think two wrongs don’t make a right. It’s important that we remain calm because anything that will result in a trade war is not for the benefit of the global economy.”
Malaysia holds the rotating chair of ASEAN this year, adding significance to its leadership in addressing the issue. The collective response from ASEAN could play a crucial role in navigating the economic implications of the tariffs.
