Synopsis: Both sides express their commitment to working closely toward reaching a common decision, benefiting both countries.
Days after the Royal Government of Cambodia (RGC) submitted three key documents to the US office in Washington DC, the Council for the Development of Cambodia (CDC) Wednesday hosted an online meeting with the United States Trade Representative (USTR), emphasising that both countries stand ready for next round of tariff negotiations.
Sun Chanthol, Deputy Prime Minister and First Vice-Chairman of the CDC, and Cham Nimul, Minister of Commerce (MoC), had a virtual conference with Sarah Ellerman, Assistant USTR for Southeast Asia and the Pacific, on June 25 afternoon, said the Royal Government Spokesperson Unit (RGSU) press release yesterday.
According to the release, both sides applauded the significant progress made in the previous rounds of negotiations and put forward additional proposals for further consideration.
Cambodia and the US stand ready for the next round of negotiations and expressed their continued commitment to working closely toward reaching a common decision, benefiting both countries, the release added.
It further said that the Royal Government of Cambodia, led by Prime Minister Hun Manet, will continue to cooperate closely with the US government to achieve a mutually beneficial trade and investment relationship.
Speaking to Khmer Times, Anthony Galliano, Vice-President of the American Chamber of Commerce in Cambodia (AmCham), praised RGC’s good-faith efforts in trade talks, noting the US may extend its tariff pause for serious negotiators amid broader geopolitical distractions.
He said, “Substantial credit and recognition are deserved by the Cambodian delegation, which has been persistent and committed to crafting a trade deal with the USTR.”
“As the administration is attempting to execute ‘90 deals in 90 days’ with a deadline of July 8, and is 88 deals behind, the administration has expressed willingness to extend the current 90-day pause on tariffs beyond July 8.”
Galliano, also Group CEO of Cambodian Investment Management Holdings (CIM), said that this would only be for countries that are bargaining ‘in good faith’, which Cambodia is absolutely doing.
“At the same time, the administration indicated plans to send formal letters in the coming weeks outlining ‘take it or leave it’ trade deal proposals,” he added.
Given that the Middle East conflict has kept the administration preoccupied, followed by the NATO summit, there is a strong possibility that an extension of the deadline is granted for countries that show seriousness in negotiations, the AmCham Vice-President said.
It may be recalled that on June 16, Chanthol announced that RGC had submitted three documents to the US side, covering proposed tariff rates, compliance requirements, and taxation on American products.
“We have already held two meetings in Washington DC, and are preparing for a third, having reviewed and submitted the final versions of the three documents to the US trade office,” Chanthol said.
He stressed the significance of the submissions, which include a draft trade agreement on tariffs, a compliance framework for Cambodia, and a proposed taxation structure for US products entering the Kingdom.
“I am confident these documents will pave the way for the upcoming third meeting. I believe we are on track for productive negotiations with our American counterparts.”
