“This policy could pose enormous challenges to the business community, especially small and medium-sized enterprises, potentially undermining global economic growth prospects and disrupting supply chains as well as trade and investment flows,” the regional bloc warned.

ASEAN’s concern was reflected in a Joint Statement adopted today by the grouping’s economic ministers, after a special online meeting. They also reaffirmed the importance of the ASEAN-US Comprehensive Strategic Partnership for regional economic growth.

The document, said the Voice of Vietnam broadcaster, reaffirms the Partnership’s commitment to a rules-based, predictable, transparent, free, fair, inclusive, and sustainable multilateral trading system, with the World Trade Organization (WTO) playing a central role.

It also notes the need to call on the United States “to engage in a constructive and frank dialogue to address trade-related concerns and ensure a balanced and sustainable relationship.”

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