Phnom Penh (FN), Apr. 4 – Cambodia is preparing to present several key arguments to the United States in response to the recent increase in import tariffs on Cambodian goods to 49 per cent, citing its status as a member of the World Trade Organization (WTO), according to Penn Sovicheat, Secretary of State and Spokesperson for the Ministry of Commerce (MoC).

The US claimed that Cambodia imposes 97 per cent tariff on its own goods, and that is unfounded, as the actual average tariff imposed on US is only 29.4 per cent. As for the demand for trade balance between the two countries is impossible because the US is a country with a large population, high demand, and a large economy, while Cambodia has only 17 million people and a small economy.

Penn Sovicheat told Fresh News on Thursday (Apr. 3) mentioned that “the Royal Government and the Ministry of Commerce are not indifferent to this issue. We will make every effort to safeguard the interests of the export industry as well as the interests of workers.”

He pointed out that as a member of the WTO, Cambodia has access the same mechanisms as other countries which could facilitate bilateral negotiations with the US.

In addition, the spokesperson said that the Ministry of Commerce is conducting a study with relevant institutions to assess the impact of each tariff rate on Cambodia’s export industry.

He said that this study will allow Cambodia to collect concrete data for bilateral discussions as well as discussions as a partner country, since Cambodia is a member of ASEAN and the US is also active as an ASEAN trading partner.

On April 2, Donald Trump decided to impose ‘reciprocal’ tariffs on goods imported from Cambodia at approximately 49 per cent. The new tariff rate will take effect on 9 April 2025.

According to a report by the General Department of Customs and Excise of Cambodia, in 2024, Cambodia-US trade volume reached USD 10.18 billion, an increase of 11.2 per cent, of which Cambodia exported USD 9.9 billion to the US, an increase of 11.4 per cent, while the US imported USD 264.14 million to Cambodia.
=FRESH NEWS