Dear members,
Greetings from the Council! Although this month may have been volatile for the international trade landscape—beginning with the Trump administration’s announcement of sweeping tariffs on April 2 followed by a delay in their implementation—we remain fully engaged on behalf of our members’ interests and are optimistic about the growth of U.S.-ASEAN economic relations.
In the weeks since the initial announcement of tariffs, we’ve seen a clear choice by ASEAN member states not to retaliate, but rather to make deals. Delegations from Vietnam, Thailand, Indonesia, Malaysia, Singapore, and the Philippines have visited Washington to negotiate, and the Council has engaged closely with each of them. We have advocated for these delegations to address non-tariff barriers and pursue reforms that enhance their economic competitiveness.
Our first engagement was a roundtable we co-hosted with the U.S. Chamber of Commerce for Deputy Prime Minister of Vietnam Hồ Đức Phớc, Special Envoy to the United States on tariff negotiations. Executives from more than 40 companies joined the session and received direct updates from Deputy Prime Minister Phớc on the progress of the negotiations. As the second country to formally engage with the United States on tariff discussions, Vietnam is taking proactive steps to address U.S. concerns, pursue concrete outcomes, and maintain a favorable environment for U.S. companies doing business in and exporting to Vietnam.
We were delighted to host several roundtables with delegations from Indonesia, whose government has been particularly proactive in sending envoys for negotiations. We hosted a roundtable luncheon with Indonesia’s Minister of Finance Sri Mulyani Indrawati and Bank Indonesia Governor Perry Warjiyo, which gave our member companies the opportunity to identify win-win solutions in ongoing tariff discussions. We also held a roundtable in our office with the visiting Minister of Health of Indonesia Budi Gunadi Sadikin, which focused on Indonesia’s health priorities, sustainable healthcare financing, and preventive healthcare.
I had the pleasure of meeting with Coordinating Minister for Economic Affairs of Indonesia Airlangga Hartarto at the Waldorf Astoria Hotel for a one-on-one discussion, in which I shared perspectives from U.S. industry to frame the Minister’s subsequent discussions with the U.S. Department of the Treasury. Separately, our member companies engaged with Deputy Coordinating Minister of Economic Affairs Dr. Edi Pambudi, during which the Deputy Coordinating Minister shared insights on Indonesia’s strategic response to the U.S. administration’s evolving trade policy.
The Royal Thai Government sent Mr. Narit Therdsteerasukdi, Secretary General of the Thailand Board of Investment (BOI), for whom we co-hosted a business roundtable with the U.S. Chamber of Commerce. The event also featured Ambassador of Thailand to the United States Dr. Suriya Chindawongse and senior Thai government officials. Secretary General Narit highlighted Thailand’s investment priorities while emphasizing sustainable bilateral partnerships and strategic responses to U.S. trade policies.
We were also pleased to engage with Malaysia’s Minister of Investment, Trade and Industry Tengku Zafrul Aziz for a roundtable luncheon. This engagement offered participants the opportunity to exchange views with the Minister—who also chairs the ASEAN Geoeconomics Task Force—on the perspectives of ASEAN’s economic ministers on U.S. trade policy, the future of U.S.-Malaysia trade and investment relations, regional supply chain resilience, and Malaysia’s evolving role in the global economy.
We collaborated with Global Counsel to co-host a business roundtable with Deputy Managing Director Leong Sing Chiong from the Monetary Authority of Singapore. The conversation encompassed U.S. tariff policy, capital markets integration, and digital assets.
Our final engagement with a visiting delegation was a business roundtable with Secretary Frederick Go of the Office of the Special Assistant to the President for Investment and Economic Affairs and Secretary Cristina Aldeguer-Roque of the Department of Trade and Industry. The session provided a valuable platform for open dialogue between the Philippine government officials and U.S. business leaders, with discussions centering on tariff-related policies, trade facilitation, and broader economic priorities shaping U.S.-Philippines commercial ties.
Central to our work has been increased engagement with U.S. Congress, whose Members could prove increasingly significant in influencing future trade and tariff policy. The Council and Robinhood co-hosted a closed-door discussion between our member companies and Senator Pete Ricketts, Senator Tammy Duckworth, Representative Ami Bera, and Representative Ed Case. This bipartisan group shared their views on U.S. tariff policy and avenues for economic collaboration between the United States and Southeast Asia. Following the discussion, the Congressmen, ASEAN embassy officials, leaders from the U.S. government, and the think tank community joined our member companies for a networking reception.
Throughout this month of rapidly shifting U.S. policies, we’ve also remained proactive in the region. Our member companies joined the 12th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting (AFMGM) in Kuala Lumpur and presented a white paper titled “Accelerating ASEAN’s Digital and Financial Transformation Agenda.” The paper provides recommendations for boosting regional competitiveness, covering digital transformation for trade, AI, and energy transition financing.
Our delegates had the opportunity to meet with officials from Indonesia, Malaysia, Brunei Darussalam, the Philippines, Singapore, Vietnam, the U.S. Department of the Treasury, the Asian Development Bank, and the ASEAN Business Advisory Council. Our delegates also attended the ASEAN Investment Conference 2025, hosted by Securities Commission Malaysia.
Finally, we co-hosted our inaugural Extended Producer Responsibility (EPR) Workshop in the Philippines alongside the Department of Environment and Natural Resources (DENR). The event brought together over 70 attendees, including senior officials from DENR, DTI, DILG, DOF, and DOST, alongside industry leaders from PCCI, PARMS, Access Partnership, PCX, and others. Participants explored effective EPR implementation models, key challenges, and public-private collaboration opportunities to ensure the successful execution of the Philippines' EPR Act.
Throughout the recent weeks of shifting trade policies from the U.S. administration, the Council’s stance has remained consistent: uncertainty is a risk to the commercial interests of our member companies. If input prices increase because of tariffs, this may place some of our producers at a price disadvantage in ASEAN. Above all, we want our companies to compete on a level playing field, particularly given that many competitors of the United States have existing (or are negotiating new) free trade agreements with ASEAN member states. However, I’m confident that—thanks to the hard work of ASEAN governments, the U.S. private sector, and other crucial actors—we will emerge stronger from this period of negotiation and engagement.
I’d like to close by quoting Sun Tzu, the author of The Art of War: “In the midst of chaos, there is also opportunity.” Now is a time of disarray and uncertainty—yet there are ample chances for reform and growth, and we commit to seeking them out.
Best regards,
Ted
EXPERT SPOTLIGHT: AMBASSADOR SERBINI ALI
The Council’s President and CEO Ambassador Ted Osius (ret.) had the opportunity to sit down with Ambassador of Brunei to the United States Serbini Ali for a candid conversation on U.S.-ASEAN economic relations, tariff policy, and reflections on the ambassador’s decades-long diplomatic career. A longtime friend of the Council, Ambassador Serbini will be leaving his post in early May following nine years in his role.
“ASEAN is always optimistic,” Ambassador Serbini says. “We've ridden through past financial difficulties, so we are going to ride this storm—but not alone. We have to work with others. We have to work with the United States.”
Read the full interview here.
UPCOMING EVENTS
On May 6, in collaboration with the U.S. Embassy in Jakarta, the Council will lead an Aerospace, Defense & Security (ADS) Workshop in Indonesia. This event will offer a vital opportunity to build relationships with new policymakers shaping the ADS sector as the U.S. administration develops policies and objectives. While defense is the primary focus, the workshop will also cover civilian aerospace, cybersecurity, advanced and dual-use technologies, and other critical areas. It will feature roundtable discussions, keynote addresses, industry presentations, and networking opportunities to foster meaningful engagement between U.S. companies and Indonesian government agencies overseeing ADS policies, procurement, and industrial development. For more information, contact Chuck Casey (ccasey@usasean.org).
On May 12, the Council will partner with the U.S.-ASEAN Center to hold the second iteration of its U.S.-ASEAN Business Leaders Series, featuring Chairman Tan Sri Nazir Razak of the ASEAN Business Advisory Council Malaysia. This roundtable and reception will provide an opportunity to better understand the business landscape and shared priorities to support Malaysia's ASEAN Chairmanship year. For more information, contact Mario Masaya (mmasaya@usasean.org) and Maya Crowden (mcrowden@usasean.org).
On May 20, the Council and Palo Alto Networks will host a keynote and panel discussion in Washington on the cyber threat landscape. The event will bring together experts from ASEAN and U.S. government and industry to explore the dynamic cybersecurity landscape in ASEAN, with featured speakers including Martijn Nuijten, Senior Director for Global Public Policy and Government Affairs at Palo Alto Networks; Jamie Williams, Principal Threat Intelligence Researcher from Unit 42 at Palo Alto Networks; and Jennifer Bachus, Acting Head of the U.S. Bureau of Cyberspace and Digital Policy. For more information, please contact Andrew Koch (akoch@usasean.org).
The Council’s Senior Vice President and Regional Managing Director Ambassador Brian McFeeters (ret.) will lead our 2025 Malaysia Business Mission on May 20-22 in Kuala Lumpur. This change in schedule serves to accommodate Prime Minister Anwar Ibrahim’s dynamic schedule, and a meeting with the Prime Minister and his Office has been confirmed for these adjusted dates. Meetings have also been confirmed with the Finance, Economic, Environmental, and other critical ministries, with more to come. This year's mission holds great significance as Malaysia holds the 2025 ASEAN Chairmanship. For more information, contact Mega Valentina (mega@usasean.org).
From May 27 to 28, Ambassador McFeeters will lead the Food & Agriculture Industry Mission to Indonesia, where U.S. companies will meet policymakers including the Coordinating Ministry of Food Affairs, Ministry of Agriculture, and Ministry of the Environment. To learn more and register for the mission, please contact Angga Antagia (aantagia@usasean.org) or Robin Huang (rhuang@usasean.org).
In June, the Council will convene an in-country workshop in Indonesia on the ASEAN Digital Economy Framework Agreement (DEFA). The workshop will gather Indonesia’s DEFA negotiators and relevant line agencies for a productive discussion on key provisions essential to the agreement’s effective implementation. Building on the Council’s strong support for DEFA’s development in 2024, this workshop reflects the Council’s continued commitment to bolster ASEAN in finalizing and operationalizing a high-standard, commercially meaningful DEFA. For more information, contact Reihan Ihza Farial (rfarial@usasean.org).
The Council is registering senior-level executives for the annual Customs Business Mission, to be held on June 3-4 in Bandar Seri Begawan, Brunei Darussalam. The mission will be conducted on the sidelines of the 34th ASEAN Directors-General of Customs Meeting and will facilitate meetings with the customs directors general from priority ASEAN Member States, ASEAN Secretariat officials, and customs officials from ASEAN Dialogue Partners and the World Customs Organization (WCO). Register for the mission here. For additional information, please contact Angelica Ortega (aortega@usasean.org) and Bella Afifa (safifa@usasean.org).
COUNCIL IN THE NEWS
Learn from Vietnam’s pragmatic Trump diplomacy - Korea JoongAng Daily
US reciprocal tariffs spark supply chain concerns - VietnamPlus
Asean seeks stronger ties with business councils amid US tariff concerns - The Star
US tariff fallout dominates Asean financial leaders’ integration talks in Kuala Lumpur - MalayMail
Asean turns to business councils - The Star
ASEAN criticizes U.S. over tariffs but vows no retaliation - Nikkei Asia
Việt Nam actively engages in ASEAN financial, banking initiatives - Viet Nam News
Vietnam actively engages in ASEAN financial, banking initiatives - VietnamPlus
Indonesia's Prabowo orders tariff talks with US to safeguard interests - Antara News
Vietnam PM Hails ‘Unique Bond’ With US Days After Hosting Xi - Bloomberg
Party leader receives CEO of Warburg Pincus - Saigon News
Party leader receives CEO of Warburg Pincus - Vietnam News
Vietnam PM asks Warburg Pincus to invest 'further and faster' - The Investor
Party chief affirms strong support for US investors in Vietnam - Voice of Vietnam
PM urges Warburg Pincus to boost fair, sustainable Việt Nam-US trade - Vietnam News
Vietnam PM Says US Trade Talks Should Not Hurt Other Markets - Bloomberg
U.S. appreciates Indonesia’s trade initiatives, reforms: Airlangga - Indonesia Business Post
Indonesia expects steady 5% growth in 2025 amid ongoing trade tensions - Reuters
Silicon Diplomacy: How Tech Can Revive America’s Oldest Asian Alliance - The Cipher Brief
US-ASEAN Business Council advances preventive health agenda in the Philippines - Mindanao Times
Progress in Indonesia-U.S. Tariff Negotiations - Tempo
Airlangga Affirms Strengthening RI-US Trade Relations Based On National Interests - VOI
U.S. appreciates Indonesia’s trade initiatives, reforms: Airlangga - Indonesia Business Post
US-Indonesia Tariff Talks Enter Technical Discussion Phase, Says Minister - Tempo
The Main Attraction at Vietnam’s New War Museum: Anyone Who Looks American - WSJ
RI seeks fairer U.S. trade terms as Prabowo pushes for economic diplomacy - Indonesia Business Post
Indonesia Strengthens US Trade Relations During Visit - Radio Republik Indonesia
Vietnam Used to Be a Safe Haven for Trade. Now It Might Not Be. - New York Times
