US TREASURY OFFICIAL DISCUSSES TARIFFS WITH ASEAN OFFICIALS 

By Harizah Hanim Mohamed

KUALA LUMPUR, April 7 (Bernama) -- United States (US) Department of the Treasury Deputy Assistant Secretary for Asia Robert Kaproth met with senior ASEAN officials here today to apprise them of the imposition of tariffs on 168 countries by the US.

The US official shared Washington’s policy outlook and discussed the effects of the newly implemented US tariffs on ASEAN member states during the US Treasury-ASEAN Finance and Central Bank Deputies Meeting (AFCDM).

In a post on social media platform X, Malaysia’s Ministry of Finance said the meeting provided an avenue for ASEAN finance and central bank deputies to directly engage with the US Treasury in a closed-door setting.

However, further details of the hour-long meeting were not disclosed.

ASEAN’s Indochina member states were reportedly the hardest hit by the tariffs, with Cambodia facing baseline and retaliatory tariffs totalling 49 per cent, followed by Laos (48 per cent), Vietnam (46 per cent), and Myanmar (44 per cent).

Meanwhile, Thailand was subjected to tariffs of 36 per cent, Indonesia 32 per cent, Brunei and Malaysia both at 24 per cent, the Philippines 17 per cent, and Singapore facing a baseline tariff of 10 per cent.

ASEAN members showed they were in unison in adopting a non-retaliatory stance and working towards an amicable solution.

As for Malaysia, the government has refuted the claim by the US authorities that it has imposed a 47 per cent tariff on US imports into the country.

Prime Minister Datuk Seri Anwar Ibrahim pointed out that the basis for calculating this tariff is fundamentally flawed, which has inaccurately resulted in Malaysia being imposed a reciprocal tariff of 24 per cent.

“Yet, our response will be calm, firm, and guided by Malaysia’s strategic interests, and our goal is clear.

“We are fully committed to securing a favourable resolution that preserves vital market access, attracts continued foreign investment, and supports the well-being of Malaysian workers and businesses,” he said in a video addressing the US tariffs yesterday.

-- BERNAMA