Leaders meet for tariff talks and truce

SOUTHEAST Asian leaders met yesterday in Kuala Lumpur for their first summit since US President Donald Trump’s tariffs upended global economic norms, with the trade-dependent nations expected to issue a joint message of deep concern.

- 

The Association of Southeast Asian Nations (Asean) will also attempt to increase pressure on Myanmar’s military junta and iron out remaining issues with East Timor’s application to join the bloc.

Asean’s strategy of nurturing diverse economic alliances was on full display as Chinese Premier Li Qiang touched down in the Malaysian capital, a day ahead of talks with the bloc and Gulf states.

In opening remarks given to media but not delivered in his speech, Malaysian Prime Minister Anwar Ibrahim said: “A transition in the geopolitical order is underway and the global trading system is under further strain, with the recent imposition of US unilateral tariffs.”

“Protectionism is resurging as we bear witness to multilateralism breaking apart at the seams,” he added.

Trump cast international markets into turmoil in April when he announced wide-ranging tariffs, before agreeing to pause them for most countries for 90 days.