The United States announces a 19% tariff on Cambodia (down from the previous 36% tariff)—effective August 1.​ [VIDEO INSIDE]

The US has imposed a 19% tariff on Cambodian goods, Prime Minister Hun Manet announced, hailing the new rate as good news for the Cambodian people and economy.

Prime Minister Hun Manet expresses gratitude to U.S. President Donald Trump for his ceasefire effort and for providing Cambodia with the opportunity to further enhance trade and economic development, especially with the United States.

In ASEAN, countries that face tariffs of 19% are Cambodia, Indonesia, Malaysia, the Philippines, and Thailand.

Brunei will face a 25% tariff, while Laos stands at 40%, Myanmar at 40% and Vietnam secures a 20% tariff imposition.