Regional Knowledge Hub
ASEAN+3 Finance Process

ASEAN+3 Macroeconomic Research Office

ANALYTICAL NOTE

Macroeconomic Impacts of Trump 2.0 Tariffs on China: A Model-Based Assessment

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ANALYTICAL NOTE

Post-Liberation Day: Tariff Tantrum and Potential Risks beyond the Market Turbulence

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ASEAN+3 Fiscal Policy Report 2025

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ASEAN+3 Regional Economic Outlook 2025

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WORKING PAPER

Debt Sustainability in Japan: Macroeconomic and Asset Pricing Perspectives

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Contributing to the macroeconomic and financial resilience and stability of the ASEAN+3 region

About AMRO
Videos
Watch: ASEAN+3 Positioned For Resilience Amid Unprecedented Trade Shocks
Watch the highlights of the ASEAN+3 Regional Economic Outlook 2025
Events
2nd ASEAN+3 Finance Think-tank Network (AFTN) Seminar
Under the theme Technology: Redefining Economic Paradigms for ASEAN+3, the 2nd AFTN Seminar focuses on the economic and financial implications of technological change and corresponding policy recommendations.
Blogs
The Post-Pandemic Fiscal Tightrope
As economies worldwide start to emerge from the inflation-fueled cost-of-living crisis that followed the COVID-19 pandemic, fiscal policymakers are confronting a sobering reality: they are not out of the woods yet.

Regional Knowledge Hub

Cooperation, Enhancement, Innovation

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ASEAN+3 Regional Economic Outlook 2025

ASEAN+3 Positioned for Resilience Amid Unprecedented Trade Shocks

The ASEAN+3 region maintained stable growth of 4.3 percent in 2024 despite various uncertainties and is positioned to remain resilient with the policy space to cushion near-term shocks. However, the outlook for the region faces significant headwinds from an unprecedented escalation of tariffs globally.

This year’s report features three chapters: Chapter 1 presents the near-term economic prospects and key risks for the region, including potential impacts of US trade policies; Chapter 2 analyzes post-pandemic inflation dynamics and their policy implications; and Chapter 3 examines the structural factors behind the region’s declining long-term growth potential, outlining five strategic policy priorities to reinvigorate sustainable economic development across the region.

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Publications and Blogs

Analytical Notes
Macroeconomic Impacts of Trump 2.0 Tariffs on China: A Model-Based Assessment
This analytical note presents a model-based analysis of the potential impact of tariff policies under Trump’s second administration.
Analytical Notes
Post-Liberation Day: Tariff Tantrum and Potential Risks beyond the Market Turbulence
This analytical note attempts to assess the post-liberation impact on ASEAN+3 financial markets, conduct a comparative study with the 2018 China-US trade tension to draw lessons learned and identify potential risks at sectoral level.
Policy Perspectives
ASEAN+3 Fiscal Policy Report 2025
This year’s report provides a comprehensive assessment of recent fiscal developments and the fiscal outlook for ASEAN+3 economies in FY2025.

News and Media

Get the latest updates on ASEAN+3 macroeconomic and financial developments and learn more about AMRO’s activities.

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Events
AFTN Welcomes New Members
The ASEAN+3 Finance Think-tank Network welcomed seven new esteemed institutions.
Videos
Watch: ASEAN+3 Fiscal Policy Report 2025
Watch: How can ASEAN+3 navigate fiscal strategy through uncertainty?
Press Releases
ASEAN+3 Fiscal Policymakers Urged to Stay Agile Amid Heightened Uncertainty and Rising Protectionism
The AFPR highlights that ASEAN+3 policymakers need to maintain flexibility to respond swiftly to emerging shocks amid heightened uncertainties, particularly given rising protectionist trends.
Press Releases
AMRO Announces the Appointment of Dong He as Chief Economist
The Executive Committee of AMRO has appointed Dong He as Chief Economist.

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