US Secretary of State Marco Rubio said the tariffs, which will take effect on August 1, are part of a broader strategy to tackle unsustainable trade deficits accumulated over the past two to three decades with countries worldwide, including the European Union (EU), Canada, Mexico and Asia.
He was speaking on the sidelines of the 58th ASEAN Foreign Ministers’ Meeting (AMM) and related meetings, which entered its final day here today.
Rubio reiterated that the tariffs will begin as scheduled but did not rule out the possibility of reaching new arrangements with individual countries that could adjust the tariffs positively in the future.
“By and large, this is not aimed at any one country. It is a global policy, applying to virtually every nation, because the trade deficit the US was running with too many countries is simply unsustainable. We had to address it,“ he said.
Other ASEAN member states have also been affected, with Indonesia facing a 32 per cent tariff, the Philippines 20 per cent, and both Thailand and Cambodia 36 per cent. Laos and Myanmar have each been subjected to a 40 per cent tariff.
Vietnamese exports will be subject to a 20 per cent tariff, while Singapore remains under a base tariff of 10 per cent. - Bernama
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