Malaysia's Prime Minister Datuk Seri Anwar Ibrahim emphasizes the importance of using the World Trade Organisation (WTO) platform to resolve trade issues with countries like the US, which has imposed tariffs unilaterally. He stresses that Asean should work together to persuade the US and maintain strong economic ties with other nations, including China, Japan, South Korea, and neighboring countries. Anwar also highlights the need for a rules-based order and ensuring economic fundamentals remain strong despite external challenges.
https://www.malaymail.com/news/malaysia/2025/04/10/criticising-megaphone-diplomacy-anwar-advocates-wto-to-settle-trade-disputes/172633ASEAN is well-positioned to create regional economic independence by leveraging its trade opportunities outside the US. The region's intra-ASEAN trade reached $759 billion in 2024, surpassing the US contribution of around 14-15.5% to global trade. ASEAN should consider strengthening regional trade mechanisms, potentially modeled after the European Union's approach, and review its free trade agreement. This move could help mitigate the impact of US tariffs on Southeast Asian countries, which include Indonesia, the Philippines, Singapore, Cambodia, Vietnam, Thailand, and Malaysia, with some facing tariffs as high as 49% or 32%.
https://en.antaranews.com/news/351325/us-tariffs-cue-for-asean-to-bolster-independence-govt?utm_source=antaranews&utm_medium=desktop&utm_campaign=top_newsASEAN is concerned about US unilateral tariffs, including a 46% tariff on Vietnam and 49% on Cambodia. The bloc has agreed not to impose retaliatory measures despite these concerns. ASEAN ministers, led by Malaysia's Tengku Zafrul Aziz, are ready to engage in dialogue with the US to address trade-related issues.
https://en.tempo.co/read/1995600/asean-economic-ministers-commit-to-non-retaliation-on-us-tariffsThe Chinese government is seeking to capitalize on US isolationism by strengthening its ties with countries affected by Trump's tariff policies, including the European Union, South Korea, Japan, and others. China has declared its commitment to opening up to the world despite US tariffs, while the US administration appears focused on negotiating individual deals rather than building coalitions. The move has prompted some countries to explore alternative trade arrangements, but China is not taking advantage of the opportunity, with its manufacturing overcapacity posing a challenge to other markets. European leaders have expressed concerns about the impact of US tariffs on global trade dynamics and are seeking better access to the Chinese market.
https://apnews.com/article/china-united-states-tariffs-influence-d0bd2de680a04f0e1cbbc42a8bba1c8fChina has announced plans to reduce the number of imported US films, citing a "wrong move" by the US in implementing tariffs on China. This decision comes after US President Trump's announcement that countries should not retaliate against the US if they want to avoid trade penalties. The European Union has put its trade retaliation measures on hold for 90 days, leaving room for a negotiated solution. The news has had a significant impact on the stock market and bond yields, with Disney's stock dropping 12.5% and the 10-year Treasury yield rising to 4.40%.
https://apnews.com/article/stocks-markets-tariffs-china-trump-dollar-358cac8ceb151aba131b7b2408a6046fThe US has paused its tariffs on most nations for 90 days in an effort to negotiate more favorable conditions, but China has refused to seek talks, saying it will "fight to the end" in a tariff war. Beijing is reaching out to other countries, including the EU and ASEAN nations, to form a united front against the US. However, not all countries are willing to ally with China, with Australia and India reportedly turning down Chinese calls for cooperation. The pause has led to a dramatic sell-off in global markets, with European stocks surging 5% and Japan's benchmark jumping 9.1%. China has retaliated with 84% tariffs on US goods, which took effect on Thursday.
https://www.euronews.com/business/2025/04/10/china-looks-for-allies-as-trump-targets-beijing-imposing-125-tariffChina reiterated its stance that it will not back down from imposing retaliatory tariffs on US goods in response to the US increase of tariffs on Chinese products. The move is seen as a direct challenge to US President Donald Trump's trade policies, which have been a major point of contention between the two nations. China's actions come after the US raised tariffs on $34 billion worth of Chinese goods, sparking concerns about a potential trade war that could impact global markets and economies.
https://www.globaltimes.cn/page/202504/1331894.shtmlDubai-based DP World has unveiled a virtual model of its Bharat Mart project, which is set to open by the end of 2026. The project aims to strengthen trade links between India and the Middle East, with Dubai's world-class infrastructure playing a key role in this endeavor. Bharat Mart will provide Indian goods faster access to global markets, building on the UAE-India Comprehensive Economic Partnership Agreement (CEPA). DP World is also developing a Virtual Trade Corridor between India and the UAE, which will enable Indian businesses to reach African markets more easily.
https://www.emirates247.com/business/economy-finance/dp-world-commences-construction-of-bharat-mart-strategic-trading-hub-in-dubai-2025-04-10-1.738627The European Union (EU) responded quickly to US President Trump's suspension of tariffs by imposing its own 90-day pause on countermeasures against the steel and aluminum tariffs imposed by Trump on March 12. EU diplomats are seeking a serious conversation with Trump, warning that if talks fail, they will retaliate.
https://www.politico.eu/article/eu-to-trump-on-tariffs-well-retaliate-when-were-ready-not-when-you-tweet/