Cambodia ready to cut tariffs on US goods to kickstart negotiations on trade measures

Cambodian Prime Minister Hun Manet has written to US President Donald Trump expressing his willingness to drop tariff levels on a selection of US goods in exchange for negotiations on lowering the previously imposed hefty US tariffs.

The PM shared the text of his letter to Trump in a social media post on April 4, Caliber.Az reports citing Cambodian news.

According to the letter, the Cambodian government proposes an immediate reduction of it's maximum 35 per cent tariff bound rate currently applied across 19 product categories down to 5 per cent. In exchange for this adjustment, the PM requests the US government to establish a negotiation mechanism and extend the deadline of the tariffs implementation to allow for further consultations

The PM’s letter follows the imposition of 49% tariff on Cambodian goods entering the USA by President Trump – one of the highest rates in the world.

By Nazrin Sadigova