China has urged Southeast Asian countries to conclude an enhanced free trade agreementby the year 2025, arguing that it is necessary to strengthen regional relations since U.S. tariffs have caused severe impacts on its exports.
The Commerce Ministry of China said that exports to ASEAN increased 22.5% in the first eight months of this year, and shipments to the United States dropped 33.1%. The new agreement would further enhance collaboration in agriculture, pharmaceutical, and digital services, which would put ASEAN as the top growing trade partner of China as international tensions in commerce continue to rise.
