Copyright channelnewsasia
The signing of the deal comes as the US and China look to avert an escalation of their trade war after US President Donald Trump threatened new 100 per cent tariffs on Chinese goods and other trade curbs starting on Nov 1, in retaliation for China's expanded export controls on rare earth magnets and minerals. Beijing and Washington rolled back most of their triple-digit tariffs on each other's goods under a trade truce, which is due to expire on Nov 10. Various reports on Sunday said that Chinese and US economic officials have agreed on the framework for a trade agreement as Trump said he was confident of hashing out a deal with Chinese President Xi Jinping when they meet in the coming days. Trump kicked off his trip to Asia in Kuala Lumpur by inking trade deals with four Southeast Asian countries - Malaysia, Cambodia, Thailand and Vietnam - amid tariffs on US exports he has imposed on the region. ASEAN members have also been hit with higher trade tariffs by the US. In his speech at the ASEAN-China Summit, Anwar said that ASEAN’s engagement with all sides demonstrated the bloc's centrality. “If people are curious, the day before we were with (US) President Donald Trump, and today we are back with China. “That reflects ASEAN’s centrality, and I commend and congratulate my colleagues from ASEAN for the wisdom to maintain centrality and maintain friendly relations with all countries. This is what we consider steady engagement that fosters trust that enables us to work through challenges together. “Complete uniformity of views is neither possible nor desirable but I believe this appreciation for China’s consistent and constructive engagement is shared by all,” he said.
