SYDNEY, December 10. /TASS/. Exports from the Association of Southeast Asian Nations (ASEAN) to the US in October 2025 were 15% higher than the same month last year amid the trade war between the United States and China, according to a report by the Australian think tank Lowy Institute.
"Southeast Asia’s exports have been growing rapidly. The region’s total goods exports were 15% higher in October 2025 than the same time last year, equivalent to roughly $300 billion in additional exports when annualized. Rather than shrinking, exports to the United States have boomed as Southeast Asian goods replace Chinese ones in the US market," the report says.
The think tank’s experts note that this is due to the significant difference in US import tariffs for China and ASEAN countries. For example, the effective tariff rate for Malaysia, a member of the organization, is 11%, while for China, it is almost three times higher - 31%. According to experts, in addition to interest rates, stability in trade relations between countries plays a significant role. US economic policy toward China is more volatile than toward other countries. The tariff on China exceeded 100% twice in 2025, and the current improvement in the situation may also be temporary.
On April 2, US President Donald Trump announced the imposition of tariffs on products from 185 countries and territories. On October 10, he announced that the United States would impose an additional 100% tariff on products from China, effective November 1 or earlier. On October 30, Trump met with Chinese President Xi Jinping in Busan, South Korea. According to China's Ministry of Commerce, following these talks, the US decided to lift the so-called 10% fentanyl tariffs imposed on Chinese goods and extend the suspension of the additional 24% tariff.