The Wall Street Journal says the U.S. needs to reassert its leadership in Asia by resolving trade issues with nations in the region.

The business daily said Tuesday that the U.S. cannot afford to be seen as an unreliable trade partner while China eyes a regional leadership position.

The newspaper took notice of proposals for regional integration laid out at the summit of Asian leaders in Thailand over last weekend.

According to the paper, Beijing is seeking a trade pact among the so-called ASEAN Plus Three participants, which includes the ten ASEAN members and China, Japan and South Korea. Japan is proposing an "East Asian Community" that would add Australia, New Zealand and India to the ASEAN Plus Three framework.

The paper said China and Japan understand the strategic importance of trade while the U.S. does not, which could jeopardize Washington’s sway in the Asian region.

The paper said U.S. President Barack Obama has done nothing to ratify the Korea-U.S. free trade deal and has instead brought up tariff disputes with China.