Research associate and officer of the policy department at the Economic Research Institute for ASEAN and East Asia
ASEAN has played an important role in building prosperity in the region in its 50 years of existence. ASEAN’s gross domestic product now stands at approximately US$2.5 trillion, making the expanded grouping the world’s sixth-largest economy and fourth-largest global trading power.
ASEAN nations have built regional production networks across many sectors, boosting their competitiveness in global markets and significantly reducing poverty. But while the current achievements and progress look good, there is a significant external threat at its doorstep: growing tension over trade between the United States and China.
Since the beginning of 2018, US President Donald Trump’s administration has announced a 30 percent tariff on imported solar panels, 25 percent tariff on steel and 10 percent tariff on aluminum in an attempt to curb its $375 b...
Disclaimer: The opinions expressed in this article are those of the author and do not reflect the official stance of The Jakarta Post.