KUALA LUMPUR: Discussions on the tariff issue were held between a representative from the United States (US) Department of the Treasury (UST) and senior officials of Asean member states on Monday.
The UST was represented by its Deputy Assistant Secretary for Asia, Robert Kaproth.
This took place at the US Treasury-Asean Finance and Central Bank Deputies Meeting (AFCDM).
“The UST shared its policy outlook and also discussed the effects of the new tariffs announcement to Asean,” said the Finance Ministry in a post on X.
The ministry said the meeting provided Asean finance and central bank deputies an avenue to directly engage with the US Treasury in a closed-door setting.
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Although not part of the main agenda, the US tariffs appeared to be among the key topic of discussion on the first day of the 12th Asean Finance Ministers and Central Bank Governors Meeting which began Monday (April 7), following President Donald Trump’s move to impose reciprocal tariffs which came just less than a week before the Asean finance ministers and senior officials gathering.
Chaired by Malaysia, the meet started with the Asean Finance Deputies Meeting, followed by Asean Central Bank Deputies Meeting as well as the US Treasury–Asean Finance and Central Bank Deputies Meeting Luncheon.
The day ended with a closed-door meeting between the Asean Finance and Central Bank Deputies, as well as the launch of the Malaysia Open House Exhibition @ Asean 2025.
US President Donald Trump, announced retaliatory tariffs on April 3.
In an immediate reaction, Malaysia said it would not be considering retaliatory tariffs to the US following the recent 10% tariff hikes and reciprocal tariff on Malaysian exports to the country.
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The 24% tariff on goods entering the United States will begin on April 9 as Trump announced new import duties against its trading partners.
This is part of a broad trade policy targeting countries which have large trade deficits with the US. It however, does not cover all Malaysian goods exported to the US.
