China and ASEAN Upgrade Free Trade Agreement to Counter Global Trade Tensions

Oct 28, 2025 06:48 pm CST

China and ASEAN have signed an upgraded free trade agreement incorporating digital commerce and green economy provisions, strengthening their $771 billion trading relationship amid escalating US tariffs. The 3.0 version enhances market access across agriculture, digital economy, and pharmaceuticals, reinforcing the world's largest trading bloc that covers nearly one-third of global population and 30% of global GDP.