KUALA LUMPUR, April 8 — Senior officials from ASEAN member countries and the United States Department of the Treasury (UST) convened on Monday to discuss the implications of new tariff measures during the US Treasury-ASEAN Finance and Central Bank Deputies Meeting (AFCDM).
According to a report by The Star, the UST was represented by Deputy Assistant Secretary for Asia, Robert Kaproth, at the closed-door session.
In a post on X, Malaysia’s Finance Ministry stated, “The UST shared its policy outlook and discussed the impact of the newly announced tariffs on ASEAN.”
While tariffs were not part of the formal agenda, the session provided an opportunity for ASEAN finance and central bank deputies to engage directly with the UST on the issue, the ministry added.
The discussion followed heightened attention on trade tensions after former US President Donald Trump announced a new round of retaliatory tariffs on April 3, just days before the 12th ASEAN Finance Ministers and Central Bank Governors Meeting.
Malaysia chaired Monday’s series of meetings, which included the ASEAN Finance Deputies Meeting, the ASEAN Central Bank Deputies Meeting, and a luncheon with the UST delegation.
The day concluded with a closed-door discussion among ASEAN deputies and the launch of the Malaysia Open House Exhibition @ ASEAN 2025.
Despite the US imposing a 10 per cent tariff hike and a reciprocal 24 per cent tariff set to take effect on April 9, Malaysia has clarified that it will not retaliate with similar measures. The tariffs are part of a broader US trade policy targeting countries with significant trade surpluses. However, not all Malaysian exports will be affected by the new tariffs.
GENEVA, April 16 — After more than three years of negotiations, countries reached a breakthrough early Wednesday by finalizing the text of a historic global agreement on how to better handle future pandemics — a response shaped by the painful lessons of the Covid-19 crisis.
GEORGE TOWN, April 16 — The Penang government will rename Lebuhraya Bandar Cassia as Jalan Tun Abdullah Ahmad Badawi to honour the legacy of Malaysia’s fifth Prime Minister.
KUALA LUMPUR, April 15 — As negotiations continue between Petronas and Sarawak’s state-owned Petros over a new gas governance deal, experts warn of significant implications for Malaysia’s energy sector and national economy.