Thailand, Cambodia reach trade deals with US after ceasefire: Lutnick
UNITED STATES, JUL 31 – The United States secured trade agreements with Thailand and Cambodia after a ceasefire halted border clashes, averting 36% tariffs set to begin August 1, officials said.
- On July 30, US Commerce Secretary Howard Lutnick said the United States reached trade deals with Cambodia and Thailand before the August 1 tariff deadline.
- According to The Hill, President Donald Trump warned that trade deals with Thailand and Cambodia would not proceed if bloodshed continued, and the ceasefire on Monday followed his warning.
- However, a senior Cambodian official said he was not aware of any agreement, despite Thailand pledging to scrap tariffs on 90% of its goods.
- Following the deal, repaired homes and public infrastructure are expected to generate short-term jobs and spending, and Thai energy and chemical stocks have shown gains.
- Looking ahead, analysts expect the US to impose tariffs between 19% and 20%, while Thailand hopes for a final levy between 18% and 20% in line with regional neighbours.
22 Articles
22 Articles
Thailand, Cambodia welcome 19% US tariff, down from 36%
BANGKOK, Thailand/PHNOM PENH, Cambodia — Bangkok and Phnom Penh welcomed on Friday the 19 percent trade tariff imposed by US President Donald Trump, a government spokesman said. Both countries averted a threatened levy of 36 percent. Trump ordered stiff tariffs on dozens of trading partners in an effort to reshape global trade in favor of the US
11th-hour US tariff discounts for Malaysia, Thailand and Cambodia: Reward for ceasefire deal?
Experts told CNA that there were several contributing factors - not just the Thailand-Cambodia ceasefire - that led to substantial tariff discounts for these Southeast Asian countries.
Thailand, Cambodia Welcome 19% US Tariff After Trump Deal
Thailand and Cambodia on Friday welcomed a 19 percent trade tariff announced by US President Donald Trump, avoiding a threatened levy of 36 percent days after he intervened to help broker a ceasefire in their deadly border conflict.
The U.S. government reduced import tariffs from Cambodia, Malaysia and Thailand to 19 percent, which will enter into force as of August 7 instead of Friday, the White House reported in an executive order.These three countries, with highly export-focused economies and which have the U.S. as one of the main destinations for their products, rushed the hours to negotiate with Washington a pact that would help reduce previously announced fees.
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