China, Asean finish talks to forge stronger free-trade deal amid US tariff war threat
In a dig at Washington, Beijing warns against tariffs as it wraps up talks with region that could face some of the world’s steepest duties
China has negotiated an updated free-trade deal with the 10-nation Association of Southeast Asian Nations (Asean) bloc, strengthening Beijing’s standing in the region amid ongoing trade tensions with the United States.
Commerce Minister Wang Wentao and his Asean counterparts announced that they had completed talks to update the 15-year-old trade pact, in a statement released late Wednesday. The third version of the agreement now awaits ratification from member countries and could be signed this year.
“China stands ready to work with Asean to ensure the stability of global supply chains, advance shared development and safeguard international fairness and justice,” Wang said.
The concluded talks came after US President Donald Trump’s “reciprocal tariffs” package against most trading partners, unveiled on April 2. Many countries, including those from Asean, are seeking to reach a deal with the US within a 90-day window – set to expire on July 9 – after Washington paused most of its tariffs.
The revamped deal has undergone nine rounds of negotiations over the past two years, and analysts said the timing of the latest talks was critical in light of future negotiations with the United States.
US Treasury Secretary Scott Bessent has warned the April 2 tariffs would be reinstated for countries Washington is unable to reach deals with during the pause.