Asian governments, businesses cautious on Trump tariff pause

Finance ministers and central bank governors are concluding a two-day meeting in Kuala Lumpur, on April 10. The bloc’s trade ministers are also meeting on Thursday to discuss ASEAN’s response to the U.S. tariff increases. © Reuters

NORMAN GOH, SHOTARO TANI, STEVEN BOROWIEC and MAI NGUYEN

KUALA LUMPUR/SEOUL/TOKYO/HANOI — Asian governments and business executives welcomed U.S. President Donald Trump’s decision to slash his “reciprocal” tariffs on most nations to 10% for 90 days but warned that even this level of duties, combined with the increased tariff on China will prolong uncertainty for firms and financial markets.

Malaysian Trade and Investment Minister Zafrul Aziz, who is hosting a virtual meeting of ASEAN economic ministers on Thursday morning to discuss the trade war, said: “Nothing is certain but uncertainty when it comes to Trump tariffs.” But he stressed Malaysia would continue to push for a “coordinated regional response to these challenges.”

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Source: asia.nikkei.com