Cambodia-US Trade Talks: Tackling Tariff Hurdles

Cambodia has embarked on pivotal trade negotiations with the United States, held recently in Washington. The Southeast Asian nation seeks to reduce a 49% tariff that has severely impacted its textile and footwear sectors, both vital components of its economy.

The Cambodian government expressed optimism about the meeting, noting a constructive exchange aimed at enhancing trade and investment ties. A follow-up round of talks is anticipated in June. The discussions feature Cambodia's Deputy Prime Minister Sun Chanthol and Commerce Minister Cham Nimul, alongside the U.S. trade representative for Southeast Asia.

The heavy tariff imposed during the Trump administration looms large over Cambodia's economy, with recent data revealing its exports to the US constitute a significant portion of its trade surplus. Much of this trade involves garments and footwear, sectors providing substantial employment and economy support.

(With inputs from agencies.)