GLOBAL leaders gathered in Malaysia on Monday to advance economic and trade cooperation in Southeast Asia, as U.S. President Donald Trump departed the summit to continue his regional tour.
On Sunday, during his first stop in Asia, Trump oversaw the signing of an expanded ceasefire agreement between Cambodia and Thailand, alongside four regional trade frameworks.
Reuters reported today that the White House noted that these agreements did not lower existing U.S. tariffs on Cambodia, Malaysia, Thailand, or Vietnam, although they allowed for potential exemptions.
“Our message to the nations of Southeast Asia is that the United States is with you 100% and we intend to be a strong partner for many generations,” Trump said, as U.S. and Chinese negotiators agreed to a temporary tariff pause in their ongoing trade war.
While Trump and Secretary of State Marco Rubio travelled to Japan, other leaders – including top officials from China, Brazil, Canada, the European Council, and the 11-member ASEAN bloc – remained to solidify economic partnerships and negotiate trade pacts.
Chinese representatives are expected to advocate for multilateral trade and strengthen regional ties, while U.S. officials continued engagement following Rubio’s departure.
A key focus of the summit is the China-backed Regional Comprehensive Economic Partnership (RCEP), which unites 10 ASEAN members with Australia, Japan, New Zealand, and South Korea. Covering roughly 30% of global GDP, RCEP is viewed by analysts as a potential buffer against U.S. tariffs.
On the sidelines, European Council President Antonio Costa met Chinese Premier Li Qiang to express concerns over Beijing’s export controls on critical raw materials. “I urged him to restore as soon as possible fluid, reliable and predictable supply chains,” Costa said, adding that he sought China’s support in efforts to end Russia’s war in Ukraine.
Rare earth minerals and magnets, key points of contention in U.S.-China trade tensions, remain strategically significant due to China controlling over 90% of the global supply.
Brazilian President Luiz Inacio Lula da Silva said his meeting with Trump on Sunday “guaranteed” a more favourable trade deal. He emphasised Brazil’s regional importance:
“It was extremely important to take into account Brazil’s experience as the largest country in South America, as the most economically important country that has almost all of South America as a neighbour.”
The United States has imposed 50% tariffs on Brazilian products in response to the sentencing of former President Jair Bolsonaro.
The Association of Southeast Asian Nations (ASEAN) includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, East Timor, and Vietnam, collectively shaping the region’s economic and diplomatic agenda. - October 27, 2025
