Malaysia to host Asia’s trade bloc RCEP in October amid US tariff tensions
The summit is being billed as a chance for Asia’s economies to ‘lead the cause of openness’ and seek greater trade to offset US tariffs
“The aim is to take stock, to accelerate implementation, and to demonstrate that Asia can still lead the cause of openness even as others turn inward,” Anwar said on Wednesday, during a speech at the Boao Forum for Asia, an annual economic conference, hosted in Kuala Lumpur.
Anwar did not directly name the US in his comments.
Nearly 70 per cent of all economies across the world have cut their growth forecasts, according to the World Bank.
That will push global growth down to 2.3 per cent this year – the slowest since the 2008 global recession – the bank says, as nations struggle to respond to policy uncertainty and the tariff storm whipped up by US President Donald Trump’s White House.
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Malaysia’s Anwar slams US tariffs, calls for stronger inter-Asean trade