How does the US-China trade deal impact the ASEAN region?

VTV.vn - The trade agreement just reached between China and the US will have an impact on the ASEAN region, including Vietnam.

Regarding the trade agreement just reached between China and the US, VTV reporter had an interview with Mr. Choi Shing Kwok - Director of ISEAS - Yusof Ishak Research Institute in Singapore.

PV: As you know, the US and China have reached a new trade agreement. So how do you think this new trade agreement will affect supply chains across Asia and could it reshape production networks in the region?

Mr. Choi Shing Kwok - Director of ISEAS - Yusof Ishak Institute (Singapore): First of all, I do not see this as a new trade deal but as a stabilization deal. This is a good development for the US and China, because they have withdrawn provisions that are not only harmful to both sides, but also to the rest of the world . Other countries welcome this development. That particular agreement will ensure that everything remains stable. There may be small adjustments, but I think the important thing now is for the region to try to continue to cope with the new tariff environment and try to reshape itself to adapt to this new agreement.

PV: What opportunities does the new agreement reached between the US and China bring to ASEAN member countries like Vietnam?

Mr. Choi Shing Kwok - Director of ISEAS - Yusof Ishak Institute (Singapore): I think most of the current tariff patterns that have been agreed upon in the bilateral trade agreements that Southeast Asian countries have signed with the US are manageable. Some countries may even benefit a little because their effective tariffs are actually lower than those of some of their competitors, at least for now.

So the ASEAN region will have a stable and predictable environment in this new regime to operate and restructure, as well as welcome new investments, taking into account these new realities. There are still potential uncertainties, such as some sectoral tariffs that have yet to be decided, those issues still need to be resolved at the regional level.

Source: https://vtv.vn/thoa-thuan-thuong-mai-my-trung-quoc-tac-dong-the-nao-toi-khu-vuc-asean-100251031173656903.htm