Printed on: Aug 01, 2025 06:32 am IST
Earlier this week, the leaders of Thailand and Cambodia agreed to a right away ceasefire to halt the worst clashes between the 2 in additional than a decade.
The US set a 19% levy on imports from Thailand and Cambodia, decrease than the 36% they initially confronted, after President Donald Trump earlier this month threatened to dam commerce offers with them until they ended a lethal border conflict.
Malaysia, which helped dealer the ceasefire, was additionally set at 19%. That’s on par with beforehand introduced charges for Southeast Asian neighbours Indonesia and the Philippines.
Earlier this week, the leaders of Thailand and Cambodia agreed to a right away ceasefire to halt the worst clashes between the 2 nations in additional than a decade, which left greater than 40 folks.
The truce, nevertheless, has been examined with Thailand accusing Cambodian troops of unprovoked firing in violation of the settlement.
The brand new charges had been unveiled alongside Trump’s announcement that the US will hold minimal international tariff charges at 10%, decrease than earlier threatened flooring of 15% or increased, in line with a White Home assertion Thursday.
US Commerce Secretary Howard Lutnick on Wednesday night time introduced in an interview that the US had secured offers with each Thailand and Cambodia however didn’t present extra particulars. Latest days have seen a flurry of offers and tariff calls for on companions, saying an settlement with South Korea that will levy 15% duties on its exports to the US and saying he would impose a 25% fee on items from India.
In a last-minute bid to keep away from a better punitive tariff, Thailand had supplied higher market entry for US merchandise by pledging to scrap tariffs on 90% of its items. It additionally promised to take non-tariff measures to chop its $46 billion commerce surplus by 70% inside three years, along with tackling the rerouting of products produced in different international locations.
Earlier than the tariff announcement, Thai Finance Minister Pichai Chunhavajira mentioned he anticipated the US to set a fee just like its Southeast Asian neighbours, which have seen charges round 20%. The US was Thailand’s largest items export market final 12 months, accounting for about 18% of the nation’s complete shipments.
Clinching a decrease US tariff fee is seen as key to insulating Thailand’s trade-dependent economic system from additional draw back. Progress is already underneath strain from Southeast Asia’s highest family debt and sluggish home consumption.
