THE recent hike in tariffs of up to 49% imposed by the United States has prompted ASEAN member countries to call for the ASEAN-US Business Council to play a pivotal role in lobbying Washington, D.C., to ease the pressure on companies operating in the region.
The announcement follows increasing concerns over the potential negative impact on trade and investment in ASEAN nations.
Minister of Finance II Datuk Seri Amir Hamzah Azizan acknowledged the importance of the Council in communicating the region’s trade realities and the challenges posed by the new tariff regime.
“I believe our message to the ASEAN-US Business Council is clear: you are helping us. American companies, which represent those from Malaysia and ASEAN, will also face significant challenges if this new regime is enforced," he stated.
He added, "This is a tough situation for us because it will affect American companies operating in the region as well.
“We want the ASEAN-US Business Council to represent us in speaking to the US government, as they understand what ASEAN governments have done to ensure American businesses continue to thrive here."
Azizan made these remarks after meeting with several business councils led by Malaysia, which also discussed strategies to enhance economic ties and streamline operations for companies within the ASEAN region.
The new tariffs, announced recently by former President Donald Trump, are seen as a catalyst for deeper cooperation among ASEAN member states, signalling a positive outlook for the region’s future economic prospects.
The discussions centered on how ASEAN governments could facilitate smoother operations for businesses, create more regional trade opportunities, and boost foreign direct investment (FDI). The meeting also involved the ASEAN-European Union Business Council and the ASEAN Business Advisory Council.
The collective efforts of the business councils are viewed as essential in lobbying for the easing of tariffs, especially as the ASEAN region continues to navigate the challenges of a rapidly evolving global trade landscape. – April 9, 2025
