ASEAN calls on the US to dialogue and resolve trade issues

Minister of Industry and Trade Nguyen Hong Dien and representatives of Vietnamese ministries and sectors attended the online conference in Hanoi. Photo: T. Linh

According to the Ministry of Industry and Trade, on the morning of April 10, the Special ASEAN Economic Ministers' Meeting on US tariff policy was held online, chaired by the Minister of Investment, Trade and Industry of Malaysia as the ASEAN Chair in 2025.

At the conference, ASEAN economic ministers highly appreciated the initiative of Malaysia, the ASEAN Chair in 2025, in proactively proposing and organizing a special ASEAN Economic Ministers' Meeting to exchange, assess the situation and discuss ASEAN's strategic approach to the US unilateral imposition of tariffs on countries (including ASEAN), in order to protect regional economic interests and reduce negative impacts on businesses and people's lives.

At the conference, Minister of Industry and Trade Nguyen Hong Dien shared that Vietnam has been proactive in exchanging, dialogue and negotiating with the United States.

Vietnam believes that ASEAN needs to be united, calm, and courageous in its cooperation with the United States; prioritize promoting cooperation with external partners in general and the United States in particular in areas of mutual interest, thereby realizing long-term development goals and enhancing ASEAN's position in the new context.

Vietnam supports ASEAN’s comprehensive, flexible and pragmatic approach in enhancing economic self-reliance, as well as promoting supply chain diversification through effective utilization of existing FTAs, including through upgrading the ASEAN Trade in Goods Agreement (ATIGA).

Economic ministers of ASEAN countries participate online at the bridge points. Photo: T. Linh

At the conference, ASEAN economic ministers agreed to adopt a Joint Statement expressing the bloc's common stance on the United States' application of reciprocal tariffs.

The joint statement affirmed the importance of the ASEAN-US comprehensive strategic partnership for regional economic growth, contributing to promoting peace and stability, bringing practical benefits to both the region and the United States.

ASEAN is currently the fifth largest trading partner of the United States. The United States is currently the second largest trading partner and largest investor of ASEAN.

The statement expressed ASEAN’s deep concerns over the negative impact of the new US tariff policy; this policy may cause significant challenges for the business community, especially small and medium enterprises, potentially undermining global economic growth prospects, disrupting supply chains as well as trade and investment flows.

The ASEAN Economic Ministers reaffirmed ASEAN’s commitment to a rules-based, predictable, transparent, free, fair, inclusive and sustainable multilateral trading system with the World Trade Organization (WTO) playing a central role and called on the United States to engage in constructive and candid dialogue to address trade-related concerns and ensure a balanced and sustainable relationship.

At the same time, we pledge to continue cooperating with the United States in trade, investment and high value-added areas of mutual interest; and are ready to strengthen cooperation with the United States on existing cooperation mechanisms such as the ASEAN-US Trade and Investment Framework Agreement (TIFA) and the Expanded Economic Engagement Work Plan (E3) to seek appropriate solutions to mutually beneficial issues.

In addition, the conference also agreed on a number of contents such as establishing a task force on ASEAN geo-economics, to assess the impact of US tax policies and propose recommendations to support ASEAN's efforts in the process of exchanging, resolving concerns of both sides, and seeking cooperation opportunities in new areas of mutual interest.

Source: https://hanoimoi.vn/asean-keu-goi-hoa-ky-doi-thoai-giai-quyet-cac-van-de-thuong-mai-698482.html