US President Donald Trump has signed a series of agreements in the field of trade and logistics of mineral supplies with Cambodia, Thailand, Vietnam and Malaysia. This is reported in statements published on the White House website.
The signing of the documents took place during Trump’s stay in the Malaysian capital, Kuala Lumpur, where he participated in the summit of the Association of Southeast Asian Nations (ASEAN).
In particular, the US president concluded reciprocal trade agreements with Malaysia and Cambodia, as well as a framework agreement on trade with Thailand. The United States will maintain a 19% tariff rate on exports from Cambodia, Thailand and Malaysia, and for certain goods, tariffs will be reduced to zero. A similar agreement has been signed with Vietnam, which has a 20% tariff rate on exports to the United States.
All four countries have agreed to remove trade barriers and provide preferential access to American goods to their markets. Regarding minerals, Trump signed two separate agreements with Thailand and Malaysia, which provide for cooperation in the field of diversifying supply chains of critical minerals.
As a reminder, on October 24, Donald Trump began a five-day Asian tour that includes Malaysia, Japan and South Korea.
The main purpose of this trip is a meeting with Chinese leader Xi Jinping, scheduled for the last day of the visit. The two sides are expected to try to reach an agreement that would end the trade war between the countries. Trump said he was looking forward to a “very good meeting” with Xi and hoped to reach a deal that would avoid the 100% tariffs scheduled for November 1.
