On the morning of April 10, 2025, the ASEAN Special Economic Ministers’ Meeting on U.S. Tariff Policy was held online under the chairmanship of Malaysia’s Minister of Investment, Trade, and Industry, in its capacity as ASEAN Chair 2025.
The meeting gathered ASEAN Economic Ministers, the ASEAN Secretary-General, and Timor-Leste as an observer.
The Vietnamese delegation was led by Minister of Industry and Trade Nguyễn Hồng Diên, with representatives from the Ministry of Foreign Affairs and relevant departments under the Ministry of Industry and Trade.
Context and Background
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The meeting took place amid the U.S. government’s announcement of a 10% baseline retaliatory import tariff on all imported goods effective April 5, 2025, and an additional tariff on countries with significant trade surpluses starting April 9, 2025.
ASEAN ministers highly appreciated Malaysia’s initiative to convene this special meeting, emphasizing the need for collective consultation and coordinated action to protect regional economic interests and minimize negative impacts on businesses and people across the region.
Vietnam’s Perspective
Minister Nguyễn Hồng Diên presented Vietnam’s viewpoint on the U.S. tariff policy, stressing that Vietnam has proactively engaged in dialogue and negotiation with the United States.
He urged that ASEAN remain united, calm, and strategic in handling trade relations with the U.S., focusing on long-term development goals and reinforcing ASEAN’s centrality in the evolving global trade environment.
Minister Diên also supported the Joint Statement adopted at the meeting, emphasizing ASEAN’s solidarity, adaptability, and leadership in addressing global trade uncertainties.
He highlighted the importance of diversifying supply chains and enhancing economic resilience by leveraging existing Free Trade Agreements (FTAs), including the ASEAN Trade in Goods Agreement (ATIGA).
Key Highlights of the ASEAN Joint Statement
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Reaffirming the ASEAN–U.S. Comprehensive Strategic Partnership, recognizing its vital role in promoting regional economic growth, stability, and shared prosperity.
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The U.S. is currently ASEAN’s second-largest trading partner and largest investor, while ASEAN ranks as the fifth-largest trading partner of the U.S.
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Expressing deep concern over the potential negative impacts of the new U.S. tariff policy, which could disrupt global supply chains, hinder trade and investment flows, and burden small and medium-sized enterprises (SMEs).
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Reaffirming ASEAN’s commitment to a rules-based, transparent, fair, inclusive, and sustainable multilateral trading system, with the World Trade Organization (WTO) at its core, and calling on the U.S. to engage in constructive dialogue to ensure balanced and sustainable trade relations.
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Emphasizing continued cooperation with the U.S. in trade, investment, and emerging value-added sectors through existing mechanisms such as the ASEAN–U.S. Trade and Investment Framework Agreement (TIFA)and the Expanded Economic Engagement Work Plan (E3).
ASEAN’s Next Steps
ASEAN ministers also agreed to establish a Special Task Force on ASEAN Geo-economics to assess the impact of the U.S. tariff policy, provide timely policy recommendations, and identify potential areas of collaboration in emerging sectors of mutual interest.