KUALA LUMPUR: ASEAN member states are focusing on eliminating distortions to be more efficient for more room on negotiations, as Washington expressed concerns about tariff and non-tariff barriers, says Indonesia Finance Minister, Sri Mulyani Indrawati.
Welcoming the pause of reciprocal tariffs by the United States, Sri Mulyani, an experienced policy maker and economist, said many member states recognise that they still have room to improve their trade policy and investment policies.
“So we hope that this 90-day pause will provide an opportunity, a very valuable opportunity between the US and all countries, so that as the biggest economy in the world, the US will see the rest of the world more as a potential positive-sum game relationship,” she told BERNAMA in an interview on the sidelines of the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) here today.
Sri Mulyani said the rippling effect on global stocks following US President Donald Trump’s tariff announcement on April 2 stemmed from anxiety and uncertainty.
However, she stressed that the 10-member bloc, as a group and individually, have good mechanisms in place to respond to this kind of shock, given their experience in managing crises like the Asian financial crisis, global economic crisis, and COVID-19. – BERNAMA
