Cambodia Critiques U.S. Tariffs as Unreasonable Amid Trade Tensions
The Cambodian Ministry of Commerce has criticized the U.S. for imposing a 49% tariff on its goods, claiming it is unreasonable. Cambodia’s exports to the U.S. amount to $10 billion, mainly in garments. The government plans to negotiate and is concerned the tariffs will also adversely affect American consumers.
The Cambodian Ministry of Commerce has criticized the recent imposition of high tariffs by the United States under President Donald Trump, labeling them as ‘not reasonable.’ The tariffs, notably a significant 49 percent increase, are expected to adversely affect Cambodia, which heavily relies on exports to the U.S., primarily in the garment sector.
In the previous year, Cambodia exported approximately $10 billion worth of goods to the United States, while imports from America totaled around $264 million, subject to an average tax of 29.4 percent. Penn Sovicheat, a spokesperson for the Cambodian commerce ministry, expressed concerns that the steep tariffs tarnish the image of Cambodian industry and may hinder foreign investments.
The Cambodian government is currently assessing the situation and intends to engage in negotiations with the United States through established channels such as the ASEAN framework or the World Trade Organization. Cambodia has established itself as a key player in manufacturing low-cost clothing for major Western brands.
A White House official recently accused Cambodia of serving as a conduit for Chinese goods, suggesting that the country has become a significant trans-shipment hub for China to bypass U.S. tariffs. In response, Commerce Minister Cham Nimul highlighted the repercussions for U.S. consumers, stating that they will initially bear the brunt of the increased tariffs on Cambodian exports. This situation indicates that both the U.S. economy and Cambodian businesses may suffer due to these trade tensions.
In summary, the Cambodian Ministry of Commerce has denounced the recent U.S. tariffs as unreasonable, emphasizing potential negative impacts on both Cambodian industry and American consumers. The Cambodian government is exploring diplomatic avenues to address these tariffs while contending with assertions that it functions as a conduit for Chinese goods. The overall economic implications of such trade measures are expected to resonate beyond Cambodia.
Original Source: www.newagebd.net
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