Malaysia, as the Asean chair this year, will prioritise the importance of deepening regional economic ties following the announcement of sweeping US tariffs on the bloc’s member nations as well as leading them in engaging Washington in talks to potentially reduce retaliatory tariffs on imports into America.
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
<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
