The U.S. has strengthened trade relations in Southeast Asia, finalizing agreements with Malaysia and Cambodia, while securing frameworks with Thailand and Vietnam during the ASEAN summit in Malaysia. These agreements lock in tariff rates and enhance market access for U.S. exports, with certain goods eligible for 0% tariffs. Meanwhile, U.S. Treasury Secretary Scott Bessent and China Vice Premier He Lifeng discussed a potential tariff deal, indicating a truce between the U.S. and China is likely ahead of an upcoming meeting between President Trump and President Xi.

Source: https://www.supplychaindive.com/news/trump-tariffs-trade-deals-asean-china-vietnam-thailand-cambodia-malaysia/803868/