FX.co ★ U.S. Targets New Trade Deals in Southeast Asia

The United States is poised to conclude trade agreements with more Southeast Asian countries in the near future, stated Trade Representative Jamieson Greer on Wednesday in Kuala Lumpur. During a session with ASEAN economic ministers, Greer responded to concerns regarding U.S. tariffs, which are 19-20% for most countries, 40% for Laos and Myanmar, and 10% for Singapore. "Discussions with individual nations on these tariffs have been advancing positively," Greer noted, "resulting in the announcement of some deals, with others expected to be finalized in the upcoming months, or even weeks for certain agreements." The U.S. has indicated progress in talks with Indonesia and Vietnam on these tariffs, although both nations have stated that the terms are still under negotiation. These dialogues underscore Washington's efforts to fortify economic relationships with the Southeast Asian bloc, which heavily relies on exports.