Cambodia Announces Agreement with the United States on Tariff Negotiations

According to Jinse Finance, on July 4, the Cambodian government announced that it had discussed and reached a consensus with the United States on a joint statement within the framework of a trade agreement concerning reciprocal tariffs. Details such as tariff rates have not yet been disclosed. The Cambodian side revealed that on the morning of the 4th, Cambodian Deputy Prime Minister Sun Chanthol and Sarah Ellerman, Assistant U.S. Trade Representative for Southeast Asia and the Pacific, held online consultations. The joint statement will be released soon. In April, U.S. President Trump proposed a 49% reciprocal tariff rate to Cambodia, the highest in Southeast Asia. Cambodia has a high proportion of exports to the U.S. in sectors such as apparel. If the planned tariffs are imposed, it will have a serious impact on the employment environment and other areas. (Nikkei News)