At the Conference, ASEAN Economic Ministers highly appreciated the initiative of Malaysia - the ASEAN Chair 2025 in proactively proposing and organizing a special ASEAN Economic Ministers' Conference.
From there, together exchanged, assessed the situation and discussed ASEAN's strategic approach (as a united, united bloc) to the unilateral US imposition of tariffs on other countries. In order to protect the economic interests of the region, reduce negative impacts on businesses and people's lives.
On the Vietnamese side, Minister of Industry and Trade Nguyen Hong Dien shared Vietnam's view on the US counterpart tariff policy. Accordingly, Vietnam has been proactive in exchanging, dialogue and negotiating with the US.
Vietnam believes that ASEAN needs solidarity, calmness, and courage in cooperation with the US. Prioritize promoting cooperation with foreign partners in general as well as the US in particular in areas of mutual interest. Thereby implementing long-term development goals, while enhancing ASEAN's position in the new context.
At the same time, Minister Nguyen Hong Dien also acknowledged and supported the content of the joint statement that had been discussed by Vietnam and ASEAN countries. Emphasizing the declaration, it demonstrates ASEAN's solidarity and proactive role in the context of complicated and unpredictable global trade.
Vietnam supports ASEAN's comprehensive, flexible and practical approach to enhancing economic autonomy. As well as promoting supply chain diversification by effectively leveraging existing FTAs in ASEAN. Including the upgrading of the ASEAN Commodity Trade Agreement (ATIGA).
After discussing in a spirit of frankness, openness and cooperation, the Ministers agreed to accept the joint statement of the ASEAN Economic Ministers, expressing the overall stance of the whole bloc on the US imposing countervailing tariffs on a number of contents.
Affirming the importance of the ASEAN-US comprehensive strategic partnership for regional economic growth, contributing to promoting peace and stability, bringing practical benefits to both the region and the US.
Expressed ASEAN's deep concern about the negative impact of the new US tax policy. This policy can pose a huge challenge for the business community. Especially small and medium-sized enterprises, which are likely to reduce global economic growth prospects, disrupt supply chains as well as trade and investment flows;
reaffirming ASEAN's commitment to a predictable, transparent, free, fair, comprehensive and sustainable multilateral trade system based on rules with the World Trade Organization (WTO) playing a central role. Call on the US to participate in a constructive and frank dialogue to address trade concerns, ensuring a balanced and sustainable relationship.
Commit to continue cooperation with the US in trade, investment and areas of high added value that both sides are interested in. Ready to strengthen cooperation with the US on existing cooperation mechanisms such as the ASEAN-US Framework Agreement on Trade and Investment (TIFA) and the Working Plan on Expanded Economic Commitments (E3) to seek appropriate solutions to mutually beneficial issues.
In addition, the Conference also agreed on a number of contents such as establishing a ASEAN socio-economic working group to assess the impact on US tax policies and propose timely recommendations to support ASEAN's efforts in the process of exchanging, resolving concerns of both sides, and seeking cooperation opportunities in new fields of mutual interest.
