AMRO Urges Unity Among ASEAN+3

The ASEAN+3 region Macroeconomic Research Office (AMRO) is urging member nations to remain united and refrain from resorting to anti-dumping measures against each other as the region realigns its exports away from the United States, following the announcement of higher tariffs, to intraregional trading partners.

- MARIANNE GO

There are fears that China, which exports about $450 billion worth of goods to the US, may redirect those products to its ASEAN neighbors. As such, AMRO chief economist Hoe Ee Khor advised, "it is important for countries to avoid anti-dumping measures and to stay united" as he also acknowledged that "China is the biggest investor in the region with its electric vehicles, batteries and renewable energy products" and that "China can play a major role in diversifying in new industries."

Khor reiterated that with the ASEAN+3 region as the "fastest growing in the world, with a rapidly growing middle class," it is important the region avoids taking anti-dumping measures against each other.

AMRO yesterday held an online press conference on the release of its annual flagship report, the ASEAN+3 Regional Economic Outlook (AREO) 2025, highlighting the region's resilience and policy capacity to withstand unprecedented global trade shocks following the US administration's sweeping tariff announcement on April 2.

The imposition of much higher US tariffs, AMRO noted, marks a sharp escalation in trade protectionism and has heightened uncertainty far exceeding market expectations. "The announcement of elevated and broad-based tariffs by the US, and the developments since, have added significant layers of complexity to the ASEAN+3 region's outlook," according to Khor.

Khor, however, expressed doubt that the Trump administration's objective to bring back manufacturing to the US will be achieved as it will face the high cost of productivity in the US, resulting in higher prices of goods which will not make them more competitive.