Asia Business Law Journal – September/October 2025

Hammering change

Legal strategy shifts as shocks hit home

As global trade upheavals intensify, the legal landscape is being hammered by waves of disruption that demand innovative responses. Our Cover story, Tariff triage, examines how the US-led tariff surge has created new layers of uncertainty for Asian businesses. As new shocks hit, companies are re-examining longstanding legal strategies. Some are renegotiating contracts, but certain measures rarely apply to tariff-related matters. Parties are turning to change-of-circumstances doctrines, revising clauses to cover changes in trade law, and adopting pre-agreed risk-sharing.

Rather than risk jeopardising relationships with US partners or rushing into litigation, most companies are focusing on targeted protections such as selective price adjustments and, in some instances, cases before the US Court of International Trade. Strategically, firms are exploring supply-chain diversification and other options, but costs, rules-of-origin hurdles and other factors constrain these moves.

For now, many companies have adopted a cautious approach, adjusting contracts and operations incrementally while monitoring developments. With so much in flux, the current environment is prompting a careful recalibration of legal strategies as businesses manage these ongoing changes.

This issue’s Intelligence report, titled Who if not you, examines how Jason Brown, the president and CEO of the Association of Corporate Counsel (ACC), intends to build on the legacy of his predecessor, Veta Richardson. Brown’s growth strategy places Asia at its core, as he seeks to strengthen the ACC’s presence beyond its established bases in Hong Kong, Singapore and India, deepening engagement throughout the region.

He emphasises the importance of creating a membership experience where in-house counsel feel connected and empowered to meet global challenges such as AI governance and cross-border compliance. Brown also reaffirms his commitment to advancing the interests of in-house counsel worldwide.

In our special Asia-Specific feature, titled One of a kind, we share an interview with Veronica Del Rosario, the Philippine Stock Exchange’s (PSE) first female and longest‑serving general counsel. Del Rosario discusses her vision for maintaining a responsive and efficient regulatory framework at the PSE to support capital-raising efforts. She emphasises her plans to ensure that only suitable companies are listed and explains that any alternative or deferred compliance will be allowed only when it does not disadvantage investors and is approved by the Securities and Exchange Commission.

Del Rosario also talks about her educational background, early career and motivation for transitioning from private practice to an in-house role. She shares insights into her beginnings at the PSE, and highlights the value of combining her expertise in law and economics in her current role. She also outlines her responsibilities as general counsel, describing her daily legal and compliance work, and reflecting on the challenges of adapting to evolving regulatory frameworks.

Our Regional guide series features three topics: e-commerce law, private equity, and esports. In the e-commerce law series, we explore how Asia’s rapid digital expansion is prompting regulators to develop new frameworks tailored to the region’s evolving market landscape. Our private equity guide offers an outlook on market trends, with experts examining the regulatory developments positioning PE markets in India, Japan and Taiwan for sustained capital inflows.

This issue also features our popular Head to Head series, focusing on fintech, consumer protection and taxation. Fintech experts explore developments in Japan and China, while our consumer protection articles provide a side-by-side comparison of regulations in Japan and Taiwan. The taxation articles examine how policy shifts are driving the move towards simpler and fairer tax systems in India and the Philippines.

We also invite you to explore the Japan Law Firm Awards 2025, where we acknowledge the achievements of the most outstanding law firms in the country during the past year. Anderson Mori & Tomotsune was named Law Firm of the Year, while four firms earned recognition as Best Overall Law Firms. Additional awards highlight the Best Boutique Law Firm, Best New Law Firm, Best Foreign Law Firms and firms excelling in various practice areas.

Finally, do not miss our annual Thailand A-List, showcasing the top 100 lawyers plus 28 Legal Icons in the country for 2025. This list is compiled by the independent research team of Asia Business Law Journal, based on nominations and endorsements from domestic and international clients, as well as peers worldwide.