Without prompt action, the economic inequalities between the bloc’s member states could threaten its unity and cohesion.
Indonesia aims to become the world’s second-largest coffee exporter, with Coordinating Minister Zulkifli Hasan urging collaborative efforts to unlock the nation’s vast coffee potential.
The so-called 3.0 version of the free trade area will inject greater certainty into regional and global trade.
In the short term, Thailand and its competitors face a 10% tariff hike, while China and Hong Kong face a 30% increase, giving Thailand a relative advantage over them.
The U.S. International Trade Commission determined Tuesday that domestic solar panel makers were materially harmed or threatened by cheap imports from four Southeast Asian countries, paving the way for the Trump administration to impose steep tariffs hitting as high as 3,500%.
By fostering trust, ASEAN can stay resilient and cohesive amid growing external pressures.
"Asean reaffirms its stance, uniting to tackle global economic challenges and seize US tariff relief for constructive talks."
Business sector hopes Thai political stability will support policies to address global economic crisis triggered by US tariff policies