Cambodia’s “Khmer Times” reported that the Cambodian government has reached a consensus with the United States on the draft joint statement on a reciprocal trade agreement framework. President Trump had previously threatened to impose tariffs of up to 49% on Cambodia.
The report stated that on July 4, a team led by Cambodian Deputy Prime Minister Sun Chanthol held online discussions with a team led by Sarah Ellerman, Assistant U.S. Trade Representative for Southeast Asia and the Pacific, at the U.S. Trade Representative’s Office.
The two sides finalized the draft of the “Joint Statement on Framework for the US-Cambodia Agreement on Reciprocal Trade,” and a press release issued after the meeting indicated that the draft joint statement would be released soon.
The press release also reiterated that “under the leadership of Prime Minister Hun Manet, the government will continue to closely cooperate with the United States to achieve mutually beneficial trade and investment relations.”
In early April, Trump announced plans to impose tariffs ranging from 17% to 49% on individual countries, with Southeast Asian countries being particularly affected, including Cambodia facing a tariff rate of up to 49%.
The imposition of reciprocal tariffs caused turmoil in global financial markets, prompting Trump to announce a 90-day temporary suspension period during which only a 10% baseline tariff would be implemented. The temporary period is set to expire on July 9.
(Source: Central News Agency)