Zürcher Nachrichten - Southeast Asian leaders meet to talk tariffs, truce and East Timor

EUR -
AED 4.292294
AFN 82.403354
ALL 98.614749
AMD 450.313995
ANG 2.091652
AOA 1071.759614
ARS 1390.838882
AUD 1.791755
AWG 2.106703
AZN 1.98987
BAM 1.969198
BBD 2.35893
BDT 142.88791
BGN 1.960408
BHD 0.440869
BIF 3436.175356
BMD 1.168767
BND 1.496126
BOB 8.072093
BRL 6.497292
BSD 1.168229
BTN 100.560011
BWP 15.597388
BYN 3.823119
BYR 22907.835708
BZD 2.346625
CAD 1.602193
CDF 3362.543114
CHF 0.938818
CLF 0.028551
CLP 1095.636997
CNY 8.387949
CNH 8.376741
COP 4742.786879
CRC 590.758786
CUC 1.168767
CUP 30.972329
CVE 110.974108
CZK 24.755191
DJF 207.713105
DKK 7.460731
DOP 69.483073
DZD 151.617706
EGP 58.313409
ERN 17.531507
ETB 157.608535
FJD 2.621253
FKP 0.858454
GBP 0.853428
GEL 3.17932
GGP 0.858454
GHS 12.038904
GIP 0.858454
GMD 83.573967
GNF 10115.679519
GTQ 8.986876
GYD 244.405717
HKD 9.173589
HNL 30.575178
HRK 7.535857
HTG 153.222504
HUF 400.952591
IDR 19045.235665
ILS 3.971699
IMP 0.858454
INR 100.454775
IQD 1531.084938
IRR 49234.315202
ISK 142.192296
JEP 0.858454
JMD 186.93629
JOD 0.828671
JPY 169.257374
KES 151.407534
KGS 101.953779
KHR 4698.443611
KMF 496.14179
KPW 1051.847097
KRW 1585.748502
KWD 0.357164
KYD 0.973515
KZT 606.019196
LAK 25192.775271
LBP 104721.535041
LKR 350.574763
LRD 233.401353
LSL 20.757566
LTL 3.451065
LVL 0.706976
LYD 6.340583
MAD 10.623824
MDL 19.906225
MGA 5183.482527
MKD 61.559077
MMK 2453.953133
MNT 4188.339632
MOP 9.445817
MRU 46.423376
MUR 53.03872
MVR 18.004842
MWK 2028.979767
MXN 22.100481
MYR 4.938047
MZN 74.754203
NAD 20.756926
NGN 1812.091267
NIO 42.951864
NOK 11.815201
NPR 160.912449
NZD 1.929757
OMR 0.449398
PAB 1.168229
PEN 4.18301
PGK 4.803983
PHP 66.281968
PKR 331.601771
PLN 4.252674
PYG 9327.462751
QAR 4.255018
RON 5.062859
RSD 117.222673
RUB 91.456065
RWF 1680.102746
SAR 4.383496
SBD 9.756156
SCR 16.518964
SDG 701.846154
SEK 11.051231
SGD 1.491692
SHP 0.918467
SLE 26.238679
SLL 24508.466573
SOS 667.927877
SRD 44.254783
STD 24191.119818
SVC 10.222245
SYP 15196.391353
SZL 20.757352
THB 38.020094
TJS 11.559363
TMT 4.090685
TND 3.404638
TOP 2.737368
TRY 46.472595
TTD 7.946249
TWD 34.323066
TZS 3097.233186
UAH 48.627901
UGX 4197.523448
USD 1.168767
UYU 47.219863
UZS 14580.369691
VES 123.095617
VND 30569.104232
VUV 140.837845
WST 3.226901
XAF 660.382346
XAG 0.032158
XAU 0.00035
XCD 3.158652
XDR 0.822047
XOF 660.353073
XPF 119.331742
YER 283.601807
ZAR 20.699386
ZMK 10520.310852
ZMW 27.394576
ZWL 376.342538
  • CMSC

    0.0900

    22.314

    +0.4%

  • CMSD

    0.0250

    22.285

    +0.11%

  • RBGPF

    0.0000

    69.04

    0%

  • SCS

    0.0400

    10.74

    +0.37%

  • RELX

    0.0300

    53

    +0.06%

  • RIO

    -0.1400

    59.33

    -0.24%

  • GSK

    0.1300

    41.45

    +0.31%

  • NGG

    0.2700

    71.48

    +0.38%

  • BP

    0.1750

    30.4

    +0.58%

  • BTI

    0.7150

    48.215

    +1.48%

  • BCC

    0.7900

    91.02

    +0.87%

  • JRI

    0.0200

    13.13

    +0.15%

  • VOD

    0.0100

    9.85

    +0.1%

  • BCE

    -0.0600

    22.445

    -0.27%

  • RYCEF

    0.1000

    12

    +0.83%

  • AZN

    -0.1200

    73.71

    -0.16%

Southeast Asian leaders meet to talk tariffs, truce and East Timor
Southeast Asian leaders meet to talk tariffs, truce and East Timor / Photo: Jam STA ROSA - AFP

Southeast Asian leaders meet to talk tariffs, truce and East Timor

Southeast Asian leaders meet Monday for their first summit since Donald Trump's tariff policies upended global economic norms, with the trade-dependent nations expected to issue a joint message of deep concern over recent US actions.

Text size:

The Association of Southeast Asian Nations (ASEAN) will also tackle pressing regional issues, attempting to increase pressure on Myanmar's military junta and iron out remaining issues with East Timor's application to join the bloc.

On Tuesday the leaders will be joined in Kuala Lumpur by representatives of China and Gulf states, as they seek to solidify diverse economic alliances in the face of future uncertainty.

Trump cast international markets into turmoil in April when he announced wide-ranging tariffs on Washington's trading partners, before the US president agreed to pause them for most countries for 90 days.

Bilateral talks between ASEAN member states and Washington are in progress, but the bloc must still present a united front, Malaysia -- which holds the rotating chairmanship of ASEAN -- said before the summit.

"We believe that it's important to continue to have a dialogue with the United States," said Malaysian trade minister Zafrul Aziz.

However, "it's important that we stand behind the principles of multilateralism where we believe in a rule-based global trading order with the World Trade Organization at its core", he told a press conference Sunday.

- 'Deep concern' on tariffs -

According to a draft statement seen by AFP, ASEAN will express "deep concern... over the imposition of unilateral tariff measures", saying they "pose complex and multidimensional challenges" to the bloc.

But ASEAN said earlier this year it would not impose retaliatory tariffs on the United States.

Instead, it is looking at broadening its scope with other trading blocs including the European Union, as well as beefing up trade between member states themselves, Zafrul said.

The presence on Tuesday of Chinese Premier Li Qiang and the Gulf Cooperation Council -- a bloc made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates -- underscores this.

"It's not just a photo-op. It actually demonstrates how ASEAN is attempting to engage strategically with various blocs, a strategy we might term multi-alignment diplomacy," said Khoo Ying Hooi from Malaya University.

In contrast, Malaysian foreign minister Mohamad Hasan said Sunday that the United States had not yet responded to a letter requesting a special ASEAN-US summit this year.

"Ideally ASEAN members should be asking themselves whether maintaining neutrality is enough?" Adib Zalkapli from risk advisory firm Viewfinder Global Affairs told AFP.

Trump's tariffs have shown that "ASEAN member states cannot remain as passive bystanders waiting for other major powers to set the global agenda", he said.

- Myanmar conflict -

On Sunday Malaysia tried to up pressure on member state Myanmar's military junta, whose leaders are barred from ASEAN summits over a lack of progress on a five-point peace deal agreed on by the bloc in 2021.

"One thing for sure that we agreed is that Myanmar's government... must comply with the five points consensus which they themselves agreed on as one of the signatories," Mohamad said.

ASEAN has led so far fruitless diplomatic efforts to end the conflict, triggered when the junta staged a coup deposing civilian leader Aung San Suu Kyi in February 2021.

Mohamad called Sunday for an extension and expansion of a ceasefire declared after a deadly earthquake, despite ongoing fighting bringing its effectiveness into question.

Meanwhile ASEAN may add an 11th member state before the end of the year, the top diplomat said.

East Timor, Asia's youngest nation, "has made meaningful progress in implementing a roadmap" and there is "strong support" for it to join the bloc, he said.

ASEAN member states will "now begin undertaking their respective domestic legal procedure" with a view to finalising its accession by the next summit in October "hopefully", Mohamad said.

L.Muratori--NZN