Cambodia urges U.S. to further lower tariffs
The United States on Monday revised tariffs on Cambodian exports to 36 percent, taking effect on Aug. 1. The new tariff marked a reduction from the 49 percent it imposed on April 2.
Cambodian Deputy Prime Minister Sun Chanthol, who serves as chief negotiator for tariffs with the United States, said the kingdom will continue to negotiate with the United States, hoping that the latter will further lower the tariffs.
"We will try to negotiate as much as possible to get the lowest tariff rate for the interests of our nation," he said at a press conference here.
"We are still on the (United Nations) list of Least Developed Countries (LDCs), so the U.S. should understand this and give us an opportunity to progress forward to the graduation from the LDC status in 2029," he added.
Meanwhile, Chanthol urged manufacturers in the kingdom to stay calm, saying that the government is capable enough of protecting the interests of the nation, employers and employees.
Kin Phea, director-general of the International Relations Institute of Cambodia, an arm of the Royal Academy of Cambodia, said U.S. tariffs on goods imported from Cambodia and dozens of other countries highlighted selfishness, protectionism, unilateralism of the United States.
"U.S. tariffs are a lose-lose game that can escalate trade tensions and provoke retaliatory measures from other countries, ultimately damage international trade relations," he told Xinhua.
"These tariffs raise the cost of imported goods for consumers and businesses, leading to higher prices and reduced purchasing power," he added.
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