On the trade surplus, Dr Balakrishnan reiterated there was no basis to impose tariffs on Singapore. "Nevertheless, you know as well as I do that the American administration, for its own domestic political reasons, needs to raise tariff revenue," he said.
"I'm trying to find a way to make the point that Singapore is not a target of the United States, not at all. But we also need to make sure we don't become collateral damage in the overall scheme in which tariffs are going to be raised by the United States with all its trading partners."
He added that he had a "good, candid and honest-to-goodness" discussion with Mr Rubio.
Beyond trade, Dr Balakrishnan said discussions during the meetings also centred on the evolving geopolitical landscape, with a focus on strategic competition between the US and China.
"I'm glad that, at least at this point in time, neither of them are forcing us to choose sides," he said.
Instead, both countries recognised ASEAN's priorities of developing its economies, deepening regional integration, securing access to emerging technologies and preserving free trade, he said, adding that were both "trying to approach this in a careful, deliberate and constructive way".
Dr Balakrishnan said ASEAN recognised that the world was undergoing a transition from a unipolar to a multipolar order.
"This is a time, particularly for the middle powers and the rest of us in ASEAN, to affirm international law, the habits of cooperation, to work on the basis of multilateralism, and not to resort to unilateral or coercive measures," he said.
Asked about Singapore's priorities when it assumes the ASEAN chairmanship next year, Dr Balakrishnan said maintaining ASEAN centrality and strengthening the region's resilience would be key themes as it navigates an increasingly uncertain and volatile world.
He said one of the main concerns raised during the meetings was the impact of the situation in the Strait of Hormuz on ASEAN's energy security, as well as fertiliser and food supplies.
Another key concern was the implications for international law, particularly the right of transit passage through straits used for international navigation. Dr Balakrishnan said there was broad agreement among ministers on the need to uphold international law, with many reaffirming the primacy of the United Nations Convention on the Law of the Sea.
"The best way to enhance resilience: work together, integrate our economies, to make sure that we do not panic, we do not put obstacles or restrictions in each other's way, we continue to lower tariff and non-tariff barriers. Equally important, continue to make sure ASEAN remains relevant and able to engage across a wide spectrum in the world," said Dr Balakrishnan.