The ‘Reciprocal Tariffs’ table shows the tariffs the US says it pays to its trading partners, and the new customs duty rates it imposed this morning. Supplied
On April 3 (Cambodia time) the US government announced new customs duty rates, or tariffs, for imports from its trading partners around the world, including Cambodia.
According to President Donald Trump’s “Reciprocal Tariffs”, Cambodian goods imported into the US will be subject to an average customs duty rate of 49%. The 78-year-old president’s administration claim that US goods imported into Cambodia are subject to an average tariff rate of 97%.
Trade data from Cambodia’s General Department of Customs and Excise (GDCE) shows that in 2024, bilateral trade between Cambodia and the US amounted to 10.18 billion dollars, an 11.2% increase compared to 2023. Of this, Cambodia exported goods worth 9.92 billion dollars to the U.S., an increase of 11.4%, while imports of U.S. goods were valued at 264.15 million dollars, a 2.7% increase.
The US is Cambodia's largest export market, accounting for 37.9% of total exports, followed by Vietnam with 13.8%, China with 6.7% and Japan with 5.4%. The majority of Cambodian exports to the US are garments, travel goods and footwear.
Lor Vichet, vice-president of the Cambodia Chinese Commerce Association (CCCA), told The Post on the morning of April 3, that the new duties imposed by the US government, led by President Donald Trump, are being applied to almost all of their trading partners.
He noted that the US government says they have based the new rates on the tariffs they claim are already imposed by their trading partners.
He explained that according to the Reciprocal Tariffs table presented by the US administration, Cambodia charges a 97% tariff on US goods. In return, the US has set a 49% rate, about half of the figure they say Cambodia imposes.
For neighbouring countries like Vietnam, which the US say charges a 90% tariff on US goods, the US has set a new tariff rate of 46%; Thailand charges 72% and the US has set a new rate of 36%; Indonesia charges 64% and the US will charge 32%; Malaysia charges 47%, and the US will charge 24%.
“The setting of new customs duty rates by the US government on imported goods is a response to the tariffs imposed by their trading partners on US goods. Overall, the current tariffs set by the US government on its trading partners are roughly half of the tariffs these countries are charging on US goods,” he claimed.
According to Vichet, the new tariffs are mainly intended to serve three purposes: First, to reduce the trade imbalance between the US and its partner countries; second, to encourage and stimulate foreign investment by pushing investors to open factories or businesses in the US to create more jobs; and third, to reduce the influence or involvement of countries in the BRIC group (Brazil, Russia, India, and China).
“I think that for Cambodia, the new tariffs will not have much of an impact because we can still negotiate for lower import duties on goods from the US. At the moment, the amount Cambodia spends on importing goods from the US is still relatively low. Additionally, because Cambodia uses the US dollar as its currency, there are still many opportunities for negotiation,” he said.
He added that according to information he has received, the US government will monitor the responses from the governments of each country. Therefore, he hopes that things will improve in the near future.
He noted that the 97% figure quoted by the US appeared to be largely related to automotive products, some of which have tariffs higher than 100%, while many other products have lower duty rates.
Vichet said that while the Kingdom’s export market is improving, it still needs time to develop.
