PHNOM PENH: Cambodian Minister of Commerce H.E. Mrs. Cham Nimul has reassured the public that the Royal Government is actively addressing concerns over the newly imposed U.S. tariffs on Cambodian goods.
Her remarks came in response to the U.S. government’s announcement on April 2 (U.S. time) of a 49 percent tariff on Cambodian imports, set to take effect on April 9, 2025.
In an exclusive interview with the National Television of Cambodia (TVK) this evening, H.E. Mrs. Cham Nimul emphasised that the Ministry of Economy and Finance has been holding consultations with relevant ministries and the private sector to gather inputs to respond and sustain Cambodia’s economy stability.
The minister clarified that Cambodia does not impose a 97 percent tariff on U.S. imports, as claimed. Instead, the Kingdom adheres to World Trade Organisation (WTO) regulations, with its highest tariff on U.S. goods set at 29.4 percent—well below the WTO’s allowable limit of 35 percent.
H.E. Mrs. Cham Nimul also pointed out that the new U.S. tariff will primarily impact American buyers due to the increase in prices, and then Cambodian producers and investors, particularly in the garment and textile sectors.
Earlier today, H.E. Meas Soksensan, Secretary of State and spokesperson for the Ministry of Economy and Finance, stated that a ministerial working group is assessing the potential economic impact of the tariff increase to develop strategies that will help maintain Cambodia’s trade competitiveness.
“A dedicated working group is evaluating the implications of this new tariff. The Royal Government is closely monitoring the situation and preparing measures to mitigate its impact,” he said.
In 2024, bilateral trade between Cambodia and the U.S. reached US$10.18 billion, marking an 11.2 percent increase from the previous year. Cambodia’s exports to the U.S. totaled US$9.9 billion (up 11.4 percent), while imports from the U.S. amounted to US$264.14 million (up 2.7 percent), according to the General Department of Customs and Excise of Cambodia.
This data underscores the U.S. as one of Cambodia’s largest export markets.