ASEAN bloc seeks dialogue with US on tariffs but won't retaliate

KUALA LUMPUR (Reuters) -Southeast Asian countries are pressing for dialogue with the United States on trade tariffs and will not impose retaliatory measures, economic ministers of the regional bloc ASEAN said on Thursday.

Before a 90-day pause was announced by U.S. President Donald Trump on the implementation of U.S. tariffs, six of nine Southeast Asian countries targeted by the U.S. administration were slapped with much bigger-than-expected tariffs of between 32% and 49%.

By comparison, the level for the European Union was 20%, Japan's was 24% and India's 27%.

"We express our common intention to engage in a frank and constructive dialogue with the U.S. to address trade-related concerns. Open communication and collaboration will be crucial to ensuring a balanced and sustainable relationship," the Association of Southeast Asian Nations' economic ministers said in a statement, which expressed concern about the tariffs and their impact.

Following a meeting on Thursday, the ministers said they reaffirmed their support for a predictable, fair, and rules-based multilateral trading system.

The 10-member ASEAN is collectively the world's fifth-biggest economy. Its members are heavily reliant on exports as a driver of growth.

(Reporting by Danial Azhar; Editing by Martin Petty)

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