Thailand and Cambodia Reach Trump Trade Deals, U.S. Official Says

New York Times

3 days ago

The United States has reached trade agreements with Thailand and Cambodia, U.S. Commerce Secretary Howard Lutnick said on Wednesday night, after President Trump had threatened to end talks with the two nations if they did not agree to a cease-fire to halt their military conflict.
Mr. Lutnick did not provide details of the new tariff rate. In an interview with Sean Hannity on Fox News, he said: 'And you know what we did today? We made trade deals with Cambodia and Thailand.' He did not elaborate.
A senior Cambodian official involved in the negotiations, speaking on condition of anonymity, said he had not been informed of a deal yet. Thailand's finance minister, Pichai Chunhavajira, said on Thursday that the country expects to hear within 24 hours.
Thailand and Cambodia were both facing a potential tariff rate of 36 percent on their goods to the United States, which is one of the largest export markets for both countries. They have been rushing to avert the steep tariffs before a deadline on Friday, especially after neighboring Indonesia and the Philippines secured rates of 19 percent and Vietnam 20 percent.
The senior Cambodian official involved in the negotiations said Cambodia would be pleased if the rate was 15 percent. The official said that Prime Minister Hun Manet had asked Mr. Trump for 'a good tariff so we can rebuild our economy because Cambodia had been at war for decades and only obtained peace in 1998.'
Mr. Trump 'acknowledged and understood,' said the official, citing information from Mr. Hun Manet.
As part of the deal, Cambodia has offered to improve market access to American goods and buy 10 Boeing planes, with the option to buy 10 more, according to the official.
On Saturday, President Trump said he told the leaders of both Thailand and Cambodia that he would stop negotiating with them on trade if they both did not agree to a cease-fire. After a truce was reached in Malaysia on Monday, Mr. Trump called the leaders of both countries and told his trade team to restart talks.
Mr. Pichai, the Thai finance minister, said negotiators had proposed to the Trump administration 'conditions acceptable to Thailand, with the goal of protecting the country's best interests.'