The most immediate impact of Trump’s tariffs will be inflation, both in the US and worldwide. As import costs rise, businesses will pass these costs onto consumers, driving up prices, said Professor Phar Kim Beng of ASEAN Studies at the International Islamic University of Malaysia (IIUM).
Southeast Asian nations reeled on Thursday as they were hit with some of President Donald Trump's heftiest tariffs, which now threaten the economies that have benefited from investment since he imposed levies on China during his first term.
Malaysia’s economic growth prospects are now under threat from US tariffs and escalating trade tensions between the world’s largest economy and its trading partners.
Thailand’s exports could be at risk due to the trade policies of the Trump administration, the Trade Policy and Strategy Office (TPSO) has warned.
Effective since : 13/09/2019
Degree No. 157/2017/NĐ-CP dated December 27th 2017 on promulgating Vietnam's special preferential import Tariff for implementation of the ASEAN – Korean Free Trade Agreement in the period 2018 – 2022
Circular No. 130/2016/TT-BTC on promulgation of concessional import tariff schedule of Vietnam serving implementation of the Asean – Korea Free Trade Agreement 2015 – 2018
ASEAN and the Republic of Korea (ROK) initiated sectoral dialogue relations in November 1989. The ROK was accorded a full Dialogue Partner status by ASEAN at the 24th ASEAN Ministerial Meeting (AMM) in July 1991 in Kuala Lumpur. Since the ASEAN-ROK partnership was elevated to a summit level in 1997 in Kuala Lumpur, relations between ASEAN and the ROK have broadened and deepened.
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
