Xi champions 'Asian family' in bid against US trade barriers
During his trip to Southeast Asia, Chinese President Xi Jinping promoted the idea of an "Asian family" and called for regional unity, Bloomberg reports. This initiative is intended as a counter to U.S. actions, which, according to "The Wall Street Journal," aim to compel more than 70 countries to commit to isolating Beijing.
Xi's visit comes at a time when the relatively less affluent countries of Southeast Asia are facing the prospect of having their products subject to high tariffs from the U.S. Vietnam, Malaysia, and Cambodia are expected to face rates of 46%, 24%, and 49% respectively.
These tariffs, which are part of U.S. President Donald Trump's "Liberation Day," have significantly impacted the export-dependent economies of the region. Exports to the U.S. constitute about 30% of Vietnam's GDP and 25% of Cambodia's GDP, underscoring these countries' vulnerability to American trade policy.
According to Bloomberg, Xi Jinping is beginning the final leg of his journey as the Trump administration prepares to seek cooperation from trading partners surrounding Beijing. On Tuesday, Xi arrived in Malaysia.
China and Malaysia will stand with countries in the region to combat the undercurrents of geopolitical and bloc-based confrontation, Xi said in the Malaysian capital. "Together we will safeguard the bright prospects of our Asian family."
The Chinese leader called for Malaysia to "resolutely oppose any attempts by external forces to interfere in our internal affairs, sow discord."
The Malaysian Prime Minister, in turn, described China as his country's most important trading partner and a "rational, strong, and reliable" ally. He noted that during geopolitical tensions, China's initiatives offer "new lease on hope." Speaking about the current international situation, he noted that "dialogue has yielded to demands, tariffs are imposed without restraint, and the language of cooperation is drowned out by threats and coercion."
"What we are witnessing today is not an honest reckoning with the imperfections of globalisation, but a retreat into economic tribalism," stated Anwar Ibrahim, the Prime Minister of Malaysia.
In the presence of both leaders, 31 memoranda, agreements, and notes were signed, including those concerning the modernisation of the China-Malaysia "Two Countries, Twin Parks" project.
Will the U.S. strike China again?
Xi Jinping's journey takes place as Beijing faces an escalation of the trade conflict with the U.S. The U.S. administration intends to use ongoing negotiations to persuade trading partners to limit their economic relations with China. According to information obtained by "The Wall Street Journal," the White House seeks to compel more than 70 countries into commitments to isolate Beijing.
Both China and the U.S. remain firm in their positions after Trump increased tariffs on Chinese goods to 145%, and Beijing reciprocated with tariffs of about 125% on imports from the U.S.
