[Global Times reporter Ni Hao Global Times correspondent to Malaysia Cao Shiyun] During his visit to Malaysia to attend the 47th ASEAN Summit on the 26th, US President Trump signed a series of trade and key minerals agreements with Malaysia, Thailand, Cambodia and Vietnam covering tariff policy, supply chain diversification, labor protection and environmental cooperation. Southeast Asian media believe that these agreements are looser and more stable than those previously claimed by the United States. However, Bloomberg quoted experts as saying that the agreement signed this time is "quite flexible", has limitations in legal binding force, and may face considerable uncertainty in the future.

The White House joint statement shows that the United States has signed mutually beneficial trade agreements with the above four countries, promising to jointly deal with tariff and non-tariff barriers. The agreement stipulates that the United States will maintain the 19% tariff rate on exports to Malaysia, Thailand and Cambodia, and the 20% tariff rate on exports to Vietnam, which is consistent with the "reciprocal tariff" rate previously set by the United States for these Southeast Asian countries.

The United States has granted exemptions to goods from these Southeast Asian countries in some areas. Malaysia's "Star" reported that the United States has exempted Malaysia from 1711 tariff items, and the total export value of related products reaches approximately US$5.2 billion, accounting for 12% of Malaysia's total exports to the United States.

At the same time, according to a report by the US "Wall Street Journal", Malaysia and Cambodia are required to cut tariffs and regulatory regulations on US cars and agricultural products, and import more US goods, including Boeing aircraft, in exchange for certain exemptions from US "reciprocal tariffs." Malaysia will also invest US$70 billion in the United States over the next 10 years; in a framework agreement signed between the United States and Vietnam and Thailand, the two countries agreed to cut import tariffs on almost all U.S. goods. A statement issued by the U.S. government showed that the two countries also agreed to purchase Boeing aircraft and U.S. agricultural products.

In the field of critical minerals, the United States has signed relevant cooperation agreements with Malaysia and Thailand. The Star said that the two sides stated in a joint statement that Malaysia promised not to ban the export of critical minerals to the United States or implement quotas, but did not specify whether the commitment applied to raw materials or processed products. The agreement signed with Thailand also aims to promote the export of critical minerals to the United States.

Regarding the agreement reached with the United States, politicians in Southeast Asian countries are cautious. The Star quoted Malaysian Minister of Investment, Trade and Industry Zafrul as saying: "Our previous commitments to the United States have not changed. In fact, the conditions granted by the United States are better than before." He also stressed that the two countries will not sign any agreements that affect national sovereignty.

Peter Mansford, head of Southeast Asia at Eurasia Group, a political risk consultancy, said: ¡°These agreements are not legally binding, they are quite flexible.¡±

The New York Times stated that despite the eye-catching diplomatic scenes, the basic policy direction of the United States towards its allies in the Indo-Pacific region has not changed to a large extent. According to reports, most of the agreements signed with the above-mentioned Southeast Asian countries are related to competition with China, including export controls, economic sanctions and access to key mineral resources, and are trying to gain more chips from them.

The US "Political News Network" reported on the 26th that, on the whole, China is still ASEAN's largest trading partner. In 2024, the total two-way trade volume between China and ASEAN will reach 982.3 billion US dollars. The United States is forcing these countries to face difficult choices.

Ge Hongliang, deputy dean of the ASEAN College of Guangxi University for Nationalities, told the Global Times reporter on the 27th that economic and trade cooperation between China and Southeast Asian countries is very in-depth and the industrial chain is very closely integrated. They are well aware of the benefits of "decoupling and breaking links" and are unwilling to choose sides between China and the United States. This can also be seen from the deliberate low-key nature of Southeast Asian countries in negotiating "reciprocal tariffs" with the United States. Ge Hongliang added that it needs to be emphasized that unilateralism is not conducive to the economies of Southeast Asian countries.