Source: ASEAN – Association of SouthEast Asian Nations
We, the ASEAN Economic Ministers (AEM), reaffirm the strong and enduring partnership between ASEAN and the United States (U.S.). As a Comprehensive Strategic Partner (CSP) of ASEAN, for more than four decades the U.S. has played a significant role in fostering ASEAN-centered regional architecture that promotes peace, stability, economic growth, investment, and trade in the region which has benefitted both the region and the U.S. In 2024, ASEAN was the U.S. fifth largest trading partner.ASEAN, being the fifth largest economy in the world, is deeply concerned over the recent introduction of unilateral tariffs by the U.S, including the tariffs announced on 2 April 2025 and subsequently the most recent suspension on 9 April 2025. This has caused uncertainty and will bring significant challenges to businesses, especially micro, small, and medium enterprises (MSMEs) as well as to global trade dynamics. The unprecedented imposition of tariffs by the U.S. will disrupt regional and global trade and investment flows, as well as supply chains, affecting businesses and consumers worldwide, including those of the U.S. It will also impact economic security and stability, affect livelihoods of millions of people in the region, and hinder economic progress in ASEAN, particularly less developed economies, and the long-standing ASEAN-US economic and trade relationship. This is particularly given that in 2024, the U.S. is ASEAN’s largest FDI source and second largest trading partner.
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