China and ASEAN Sign Free Trade Agreement Amid U.S. Tariffs

China and 11-member regional bloc sign an upgraded version of their free trade pact, as both weather the impact of the US tariffs.

China and ASEAN signed an upgraded free trade agreement at the 47th ASEAN Summit in Kuala Lumpur, enhancing collaboration in infrastructure, digital transition, and trade facilitation. This “3.0 version” aims to strengthen their trade relationship, which has seen a 9.6% year-on-year increase, amidst rising US protectionism and tariffs impacting global trade.