Asia Pacific News
LAST UPDATE: June 5, 2025
Australia, EU determined to seal trade deal as talks revived, Farrell says
Australia and the EU have resumed negotiations for a comprehensive free trade agreement, focusing on resolving key issues like agricultural market access and luxury car taxes.
Insight
The revival of trade talks between Australia and the EU signifies a strategic move to strengthen economic ties amidst global trade uncertainties. The discussions aim to address longstanding issues, particularly in agriculture, where Australia seeks greater access for its products. The potential agreement could enhance investment, supply chains, and educational collaboration, offering mutual benefits. However, the lack of a set timeline indicates that while progress is being made, challenges remain in reaching a final consensus.
US Will Not Give Vietnam Reprieve on Tariffs, Lutnick Says
US Commerce Secretary Howard Lutnick stated that the US will maintain tariffs on Vietnam, citing concerns over the re-export of Chinese goods through Vietnam.
Insight
The US’s firm stance on maintaining tariffs against Vietnam underscores ongoing trade tensions and concerns over supply chain circumvention. By highlighting the significant trade deficit and the flow of Chinese goods through Vietnam, the US signals its intent to enforce stricter trade policies. This approach may strain US-Vietnam relations and impact Vietnam’s export-driven economy. The situation reflects broader challenges in global trade dynamics, where countries must navigate complex interdependencies and policy shifts.
Bankers, Economists Vie for Bank of Thailand Governor’s Job
A competitive race is underway for the position of the Bank of Thailand Governor, with candidates from both political and economic backgrounds vying for the role.
Insight
The selection process for the new Bank of Thailand Governor is drawing significant attention, reflecting the critical role the central bank plays in the nation’s economic stability. The involvement of candidates with political affiliations raises concerns about the potential for political influence over monetary policy. Economists and former central bank officials advocate for a non-political appointee to preserve the institution’s independence. The outcome of this selection will have long-term implications for Thailand’s economic governance and investor confidence.
