Preventing Tariff Bombing... "ASEAN Pursuing Summit with US"

"Failure to resolve this issue quickly will have major impact"

ASEAN (Association of Southeast Asian Nations) is pursuing a summit with the United States regarding tariff issues.

According to Reuters on the 21st (local time), Malaysian Foreign Minister Mohamad Hasan stated in parliament the previous day that ASEAN plans to hold a special summit with the US to convey member states' positions regarding US tariffs.

Minister Mohamad said that the Trump administration's tariffs would pose a challenge to Malaysia, adding "If we don't resolve this issue quickly, it will have a major impact" and "We need to discuss how to present ASEAN member states' opinions so that the tariffs proposed (by President Trump) don't become a burden on us."

Minister Mohamad did not mention specific details such as whether the summit will actually take place, its timing, or whether President Trump would attend. Malaysia is the ASEAN chair this year.

Previously on the 19th, President Trump announced that "Within the next month, I will announce tariffs on automobiles, semiconductors, pharmaceuticals, and lumber." This suggests he may move up the timeline from his recent indication of announcing auto tariffs around April 2nd.

Additionally, on the 18th, he stated that tariffs on automobiles, semiconductors, and pharmaceuticals would be "25% and above" and that tariffs would "increase much more over the year."

ASEAN recorded its highest-ever trade surplus with the US of approximately $200 billion (about 287 trillion won) as of 2023.

Cha Eun-ji, Hankyung.com reporter chachacha@hankyung.com