Jaguar Freight | White House Announces Reciprocal Trade Agreements with SE Nations and an Update on Canada

It was an eventful weekend for trade news.

The White House announced new reciprocal trade agreements with Malaysia, Vietnam, Cambodia, and a framework for Thailand, under which these nations will eliminate import tariffs on U.S. goods.

Malaysia: President Trump and Prime Minister Anwar Ibrahim finalized a reciprocal trade deal during Trump’s visit to Kuala Lumpur. The existing 19% IEEPA reciprocal tariff on Malaysian goods remains unchanged.

Vietnam: The U.S. reached an agreement with Vietnam maintaining the 20% reciprocal tariffs on Vietnamese products, consistent with Executive Order 14257 issued on April 2.

Cambodia: Cambodia agreed to remove all tariffs on U.S. goods. The U.S. will continue to apply a 19% reciprocal tariff on Cambodian products, as outlined in Executive Order 14257 issued on April 2.

Thailand: A trade framework with Thailand has been established to address tariff and non-tariff barriers on agricultural and industrial products. The U.S. will maintain the 19% reciprocal tariff on Thai goods, in line with Executive Order 14257.

Canada: In a separate announcement, President Trump also threatened a 10% increase in tariffs on Canadian goods, responding to a recent advertisement aired by Ontario during the World Series broadcast.

Further details are available on the White House website (click here).  Jaguar Freight will provide additional updates as warranted.

Compliments of Jaguar Freight – A member of the EACCNY