RCEP May Expand and Revitalize Trade Amid Global Tariffs

Malaysia has announced that the RCEP summit in October will consider admitting new members and boosting trade flows through reforms. The bloc, which includes ASEAN nations, China, Japan, South Korea, Australia, and New Zealand, aims to address concerns over rising U.S. tariffs on Asian goods. Malaysia’s Trade Minister emphasised that proposed enhancements will focus on trade facilitation, membership expansion, and balancing trade dominance within the bloc. For members, this could mean more resilient supply chains and better access to regional markets as global protectionism intensifies.