Asean leaders on edge over US-China trade tensions and growing protectionism
Singapore’s prime minister urges restraint by claimants to the South China Sea, and says city state has not had a request to host a meeting between the leaders of the United States and North Korea
Singaporean Prime Minister Lee Hsien Loong said on Saturday that a growing trade spat between the United States and China was one of the most pressing worries for Southeast Asian nations as their leaders echoed the concern over rising protectionism.
Lee flagged his concerns in remarks made as he opened a summit of the 10-member Association of Southeast Asian Nations (Asean), for many of which the United States and China are the top two trading partners.
“In particular, the recent trade tensions between the US and China are worrying concerns,” he said. Singapore occupies the group’s rotating chair for this year.
“We are deeply concerned over the rising tide of protectionism and antiglobalisation sentiments,” a statement issued on behalf of the Asean chair at the end of summit talks said.
The US Trump administration has threatened to impose tariffs on up to US$150 billion of Chinese imports, and Beijing has vowed retaliation against American exports.
On Saturday Lee said the open and rules-based multilateral trading system, which has backed the growth of Asean, had come under pressure as the political mood in many countries has shifted against free trade.