ASEAN urged to remain united and composed in the face of new tariff

ASEAN urged to remain united and composed in the face of new tariff

At the meeting, Diên shared Việt Nam's views on the US countervailing tariff measures, noting that the country has proactively engaged in dialogue and negotiations with the US. These efforts, he said, would support ASEAN’s long-term development goals and strengthen its position amid global uncertainties.

Minister of Industry and Trade Nguyễn Hồng Diên (third, right) during a video-conference with his counterparts from ASEAN countries. — VNA/VNS Photo

Minister of Industry and Trade Nguyễn Hồng Diên called for ASEAN to stay united and composed in its cooperation with the United States, emphasising the importance of promoting collaboration with external partners, including the US, in areas of mutual interest.

According to the Ministry of Industry and Trade (MoIT), the Special ASEAN Economic Ministers’ Meeting on the US tariff policy was held via video-conference on Thursday. The Vietnamese delegation, led by Minister Nguyễn Hồng Diên, included representatives from the Ministry of Foreign Affairs and the MoIT.

At the meeting, Diên shared Việt Nam's views on the US countervailing tariff measures, noting that the country has proactively engaged in dialogue and negotiations with the US. These efforts, he said, would support ASEAN’s long-term development goals and strengthen its position amid global uncertainties.

Diên also welcomed and endorsed the contents of the Joint Statement discussed among ASEAN member states. He highlighted that the statement reflects ASEAN’s unity and proactive stance in navigating the increasingly complex and unpredictable global trade environment.

Việt Nam supports a comprehensive, flexible and practical approach by ASEAN in enhancing economic resilience and diversifying supply chains, particularly by leveraging existing free trade agreements (FTAs), including efforts to upgrade the ASEAN Trade in Goods Agreement (ATIGA).

Following open and constructive discussions, the ministers adopted a Joint Statement expressing the region’s collective stance on the US’s new tariff policy.

Key points included reaffirming the strategic importance of the ASEAN–US Comprehensive Strategic Partnership in promoting regional economic growth, peace, stability and mutual benefit. ASEAN is currently the US’s fifth-largest trading partner, while the US is ASEAN’s second-largest trading partner and its top foreign investor.

Ministers expressed concerns over the potential negative impacts of the US’s new tariff policy, saying that the policy could pose significant challenges for the business community – especially small and medium-sized enterprises – while threatening global economic growth prospects, disrupting supply chains and impeding the flow of trade and investment.

In addition, the statement reaffirms ASEAN’s commitment to a rules-based, transparent, predictable, free, fair, inclusive and sustainable multilateral trading system, with the World Trade Organization (WTO) at its core. It called for the US to engage in constructive and candid dialogue to address trade-related concerns and foster a more balanced, sustainable bilateral trade relationship.

In addition, the ministers reiterated their commitment to continuing cooperation with the United States across trade, investment, and high-value sectors of mutual interest.

ASEAN expressed readiness to enhance collaboration through existing mechanisms, such as the ASEAN–US Trade and Investment Framework Agreement (TIFA) and the Expanded Economic Engagement (E3) Work Plan, to jointly seek mutually beneficial solutions. The meeting also agreed on the formation of an ASEAN Geoeconomic Task Force, which will assess the impact of the US tariff policy and provide timely recommendations to support ASEAN's efforts in addressing mutual concerns and exploring new areas of cooperation with the United States. 

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