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South Korea's chief trade negotiator Yeo Han-koo has been dismissed from his post as Seoul faces intensifying tariff pressure from Washington, with new duties on drone imports adding to existing trade tensions.
Indonesian exporters face mounting pressure from US tariffs and higher domestic production costs, with rivals like Cambodia and Vietnam gaining competitive advantages. Industry leaders warn that securing exemptions and reducing business costs are critical.
Bank Indonesia Governor Perry Warjiyo has resigned, as Indonesia intensifies efforts to secure US tariff exemptions for palm oil exports. Across Southeast Asia, nations tackle geopolitical tensions, trade threats, and demographic shifts.
US tariff measures will have limited immediate impact on ASEAN exports thanks to product exemptions and lower effective rates, though ongoing investigations and trade tensions keep risks elevated.
Prime Minister Anwar Ibrahim confirmed Malaysia will maintain dialogue with the United States regarding tariffs connected to forced labour compliance, noting the 10% duty rate is relatively favourable compared to peers.
Singapore now faces a 12.5% tariff on significant portions of its US exports following a US investigation into forced labour practices. The measure affects roughly one-third of the city-state's domestic exports to America and reflects Washington's hardened trade stance.
The United States has announced additional tariffs of 10 to 12.5 per cent on 60 trading partners, including major economies and Southeast Asian nations, for inadequate enforcement of forced labour prohibitions in their supply chains.
The US has announced tariffs of up to 12.5% on South Korea, Japan and dozens of other nations after investigating forced labour practices. The move replaces temporary global tariffs and comes after court setbacks.
South Korea's Industry Minister Kim Jung-kwan is visiting Washington this week to meet with senior US officials on trade and investment matters, as Seoul prepares for potential additional US tariffs linked to a forced labour investigation.
India has enacted a ban on importing goods produced through forced labour, aiming to sidestep anticipated US tariffs of up to 12.5 per cent. The policy takes effect in 30 days.