KUALA LUMPUR, Malaysia — Malaysian Prime Minister Anwar Ibrahim warned Wednesday that global trade is being weaponized as Southeast Asia’s foreign ministers held annual talks ahead of the looming threat of U.S. trade tariffs.
Concerns about U.S. tariffs have jolted the Association of Southeast Asian Nations, a 10-member bloc that includes some of the world’s most trade-dependent economies.
Six ASEAN members are among the 14 countries that could see duties on their exports to the U.S. skyrocket on Aug. 1.
Launching the group’s foreign ministers’ meeting, Anwar said the world is now witnessing an era where “power unsettles principle” and “tools once used to generate growth are now wielded to pressure, isolate and contain.”
Without mentioning the U.S. by name, he again urged ASEAN to work together to respond to trade threats.
“Our cohesion must not end at declarations,” he said, calling for members to increase intra-ASEAN trade, invest in regional integration, and reduce strategic dependencies on external powers. “This is no passing storm,” he said. “It is the new weather of our time.”
Trump first announced tariffs in April, but then delayed them for 90 days to allow for deals to be negotiated. On Tuesday, he announced new tariffs with rates of between 25%-40% on 14 countries, which will go into effect Aug. 1 unless new deals are struck. He also threatened to increase tariffs if any countries retaliate.
Many ASEAN members have launched bilateral talks with the U.S., but officials have said they plan to hold an ASEAN-U.S. summit later this year to seek a common position.
So far, only Vietnam has secured a deal, bringing down its tariffs from 46% to 20%.
The list threatens 36% tariffs for Thailand and Cambodia, 32% for Indonesia, 25% for Malaysia, and 40% for Laos a