Phnom Penh (VNA) – Cambodia has announced an immediate reduction of 19 product categories from its maximum 35% tariff-bound rate to 5% applied tariff rate to promote imports of US products to the country, the Cambodia News Agency AKP reported on April 4.
In a letter sent to US President Donald Trump, Cambodian Prime Minister Hun Manet requested negotiations after the US imposed a 49% tariff on products from Cambodia, urging Trump to postpone the tariff implementation.
Hun Manet said the existing practice of Cambodia's maximum tariff rate tops at 35%. He said in expression of Cambodia’s good faith and in spirit of strengthening Cambodia–US bilateral trade relations, Cambodia is committed to promoting US based product imports with an immediate reduction of 19 product categories from its maximum 35% tariff-bound rate to 5% applied tariff rate.
The PM reaffirmed that Cambodia remains fully committed to engaging in constructive and productive dialogue with the US government to further deepen bilateral trade, so both nations and their people can enjoy tangible benefits from these significant trade relations.
Cambodian Minister of Commerce Cham Nimul also called on US Trade Representative Jamieson Greer to establish a negotiation mechanism and extend the deadline for imposing tariffs to allow for consultations with stakeholders and a thorough assessment of alternative approaches that protect both US economic interests and Cambodia’s sustainable development.
Cham Nimul said that Cambodia highly values its long-standing relationship with the US which has been built on mutual respect, common interests and constructive cooperation over many decades. In addition, most of Cambodia’s exports to the US complement American goods and industries./.
