SINGAPORE (AP) — Singapore's prime minister says Southeast Asian countries are working closely with new powers China and India to counter the pressure of protectionism and ensure continued growth.
Prime Minister Lee Hsien Loong (LEE SHIEN LONG) told his counterparts from the 10-nation Association of Southeast Asian Nations at the opening of a summit Saturday that regional economic growth is under threat because the political mood in many countries has turned against free trade. He says recent trade tensions between the U.S. and China, in particular, are worrying.
The U.S. and China are entangled in their most consequential trade dispute since World War II. Both countries have proposed tariffs of $50 billion on each other's products; President Donald Trump is looking to impose tariffs of up to $100 billion more on Chinese goods.