"The 11 member nations collectively export more to the US than China, making them an important trading partner and also highly vulnerable to Trump's tariff regime. The US president secured pledges from Vietnam to dramatically increase its US purchases, and signed deals with Malaysia and Thailand on a framework to diversify critical minerals supply chains. The four countries also pledged to remove trade barriers and provide preferential market access to various US goods."
"But the US maintained its 19% broad rate for Thailand, Malaysia and Cambodia, and 20% for Vietnam. It is indeed puzzling what the four south-east Asian countries might get in return for signing the trade deals and frameworks with the US that would compel them to follow through on some difficult commitments, said William Yang, the Crisis Group's senior analyst for north-east Asia. The failure to secure an immediate reciprocity from the US to lower tariff rates suggests that a potential reduction may be tied to how the trade agreements are implemented."
Donald Trump made stops in Malaysia, Japan and Korea and secured trade pacts with multiple countries during his Asia tour. Kuala Lumpur hosted the ASEAN meeting where trade deals involved Malaysia, Brazil, Thailand, Cambodia and Vietnam. ASEAN members export more to the US than to China, making them vulnerable to US tariffs. The US gained pledges from Vietnam to boost purchases and signed frameworks with Malaysia and Thailand to diversify critical minerals supply chains. The four countries agreed to remove trade barriers and offer preferential US market access while US tariffs remained unchanged. A potential tariff reduction appears tied to future implementation and reciprocity. Trump also oversaw a non-enforceable ceasefire agreement signed in Kuala Lumpur.
Read at www.theguardian.com
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