ASEAN Navigates Trade Tensions and Myanmar Ceasefire

Leaders of ASEAN resolved to ensure that bilateral trade deals with the U.S. will not hamper member economies. The summit highlighted economic challenges, including U.S. tariffs, and called for an expanded ceasefire in Myanmar. Strategic plans for economic integration and regional collaboration were also discussed.

Southeast Asian leaders reached a consensus on Tuesday to prevent bilateral trade agreements with the United States from negatively impacting member economies, said Malaysia's premier, Anwar Ibrahim. As current chair of ASEAN, Anwar noted that the agreement was reached during the ASEAN summit in Kuala Lumpur.

The summit occurred in the context of global market volatility and economic instability, intensified by surviving trade conflicts following U.S. President Donald Trump's announcement of significant tariffs. Said tariffs, levied at between 32% and 49%, have particularly affected Southeast Asian nations already negotiating for reductions.

In addressing Myanmar's crisis, ASEAN leaders called for a nationwide truce to foster dialogue and trust, following closed-door talks led by Anwar with military and opposition leaders. Anwar reiterated ASEAN's commitment to engaging all stakeholders in Myanmar for a peaceful resolution.

(With inputs from agencies.)