Canada’s interest rate increases as deadline for agreement looms – DW – 08/01/2025

The governments of two Southeast Asian countries, Thailand and Cambodia, welcomed the 19% levy Washington announced for them, which are substantially lower than the rates Trump announced in April.

In April, Trump had announced “discounted reciprocal tariffs” of 36% on Thai goods and 49% on Cambodian products. 

“This is the best news for the people and economy of Cambodia to continue to develop the country,” Cambodia’s Prime Minister Hun Manet wrote in a Facebook post.

A Thai government spokesperson, meanwhile, called it a “major success.”

“This finalized deal, setting US import tariffs at 19%, marks a major success for Thailand,” Thai government spokesman Jirayu Huangsab said in a statement.

“It represents a win-win approach aimed at preserving Thailand’s export base and long-term economic stability.”

The tariff announcement came days after the US president intervened to help broker a ceasefire between Thailand and Cambodia following days of heavy border clashes between the two neighbors, which left over 40 people dead and hundreds of thousands displaced.