
In his opening remarks at the 28th Asean-China summit, Li warned that the region risked being divided by powerful external parties if it failed to unite.
“Unilateral protectionism has severely impacted the international economic and trade order. Interference in the region by external forces is on the rise. Many countries have been unreasonably subject to high tariffs.
“If we do not unite and instead form factions in the face of power politics and economic bullying, we will not only gain no benefits but will also be divided and ruled by external forces,” he said at the 47th Asean Summit and related meetings here today.
Li added that the region can only safeguard its long-term interests through solidarity.
He reaffirmed Beijing’s commitment to working with the regional bloc to strengthen synergies and eliminate external interference.
Earlier this year, the US established a baseline tariff of 10% on imports from nearly all countries starting April 5.
Washington also imposed higher “reciprocal” tariffs targeting specific countries or sectors deemed to have unfair trade advantages or large trade surpluses with the US.
China later retaliated with large tariffs on US goods, export controls and trade restrictions, locking the two countries in a trade war.
Asean countries faced some of the highest initial tariff rates globally, with Cambodia at 49%, Vietnam at 48%, and Laos at 46%. Malaysia was hit with a 24% tariff rate.
After negotiations, the current US tariff rates are about 20% for Vietnam and 19% for Cambodia, while Laos continues to face a higher tariff rate of around 40% due to less progress in trade talks.
Negotiations led by investment, trade and industry minister Tengku Zafrul Aziz resulted in a drop in tariffs on Malaysian exports from 25% to 19%.