The national flags of the ten member countries of the Association of Southeast Asian Nations (ASEAN), alongside the official ASEAN flag, waving together on flagpoles against a clear blue sky.

The flags of the ten member states of the Association of Southeast Asian Nations (ASEAN) fly together, representing the economic and political cooperation within the region.

Economy

Navigating US Tariffs: How ASEAN Nations Aim to Secure Balanced Trade and Growth

US seeks “balanced trade” with ASEAN amid tariffs. S&P projects slower growth. ASEAN seeks better US market access.

byAndres Castro

September 24, 2025, 10:59 AM

Executive Summary

US Trade Representative Jamieson Greer called for “fair and balanced” and “balanced and reciprocal” trade with Asean during a meeting with the bloc’s economic ministers.

President Donald Trump has imposed 10 to 40 percent tariffs on Asean member states, leading to downward revisions in the bloc’s economic growth forecasts, with S&P projecting 4.5 percent growth in 2025.

Asean economic ministers, under Malaysia’s chairmanship, plan to leverage an existing trade and investment agreement to negotiate improved access to the US market despite current trade tensions.

The Story So Far

The current trade discussions between the US and Asean are driven by President Donald Trump’s recent imposition of tariffs, ranging from 10 to 40 percent, on Asean member states. These tariffs were enacted to address Washington’s significant trade deficits with its partners, leading Asean economies to anticipate slower growth and increased concern over narrowing access to the crucial US consumer market, despite a recent 16 percent increase in their exports to the US.

Why This Matters

President Donald Trump’s recent tariffs are projected to slow economic growth in the Association of Southeast Asian Nations (Asean) to 4.5% by 2025, raising concerns among businesses about narrowing access to the crucial US consumer market. While the US calls for “balanced and reciprocal” trade, Asean is strategically leveraging existing agreements to negotiate improved market access, underscoring the ongoing complexities in global trade relations and the bloc’s efforts to mitigate potential economic headwinds.

Who Thinks What?

US Trade Representative Jamieson Greer advocates for “fair and balanced trade” with Asean, emphasizing that the US hopes it would be “balanced and reciprocal,” while President Trump has imposed tariffs to address trade deficits.

Asean member states and regional economists are concerned about slower growth forecasts attributed to US tariffs and plan to leverage existing trade and investment agreements to negotiate improved access to the US market.

US Trade Representative Jamieson Greer has called for “fair and balanced trade” with the Association of Southeast Asian Nations (Asean) during a meeting with economic ministers in Kuala Lumpur, as the bloc’s economies brace for slower growth forecasts attributed to recent US tariffs. The call comes as S&P projects Asean’s average economic growth to slow to 4.5 percent in 2025, with businesses in the region expressing concern over narrowing access to the world’s largest consumer market.

US Trade Demands and Economic Impact

Washington’s trade tsar, Jamieson Greer, welcomed trade with the 10-member group during his opening remarks on Wednesday, emphasizing that the US hoped it would be “balanced and reciprocal.” His comments preceded a closed-door meeting with Asean ministers.

The discussions unfold against a backdrop of recent US tariff implementations. President Donald Trump has imposed tariffs ranging from 10 to 40 percent on Asean member states in recent weeks, stating these measures were necessary to address Washington’s significant trade deficits with its partners.

Regional economists have subsequently revised growth forecasts for Asean downwards. Despite the tariffs, Asean’s exports to the US increased by 16 percent last year, reaching US$312 billion.

Asean’s Response and Future Engagement

Greer affirmed the US’s interest in continuing to collaborate with Asean to expand trade that benefits both sides, aiming to foster a “prosperous world economy.” This suggests an ongoing dialogue despite the current trade tensions.

Malaysia, which holds the chairmanship of Asean this year, indicated on Tuesday that the bloc’s economic ministers would leverage an existing trade and investment agreement during their meeting with Greer. This move is widely interpreted as an attempt to negotiate improved access to the US market for Asean members.

Outlook

As Asean navigates the implications of these tariffs and seeks to ensure continued access to the US market, the discussions underscore the ongoing complexities in global trade relations. The bloc’s efforts to leverage existing agreements highlight its strategic approach to mitigating potential economic headwinds.