Joint Statement on a Reciprocal Trade Agreement

The United States and the Kingdom of Cambodia have announced a Joint Statement on a Reciprocal Trade Agreement aimed at strengthening their economic relationship. This agreement will remove tariffs on U.S. industrial goods and agricultural products exported to Cambodia, while establishing reciprocal tariffs for Cambodian goods. Both countries have also committed to addressing non-tariff barriers to trade and ensuring protections for labor rights and environmental laws.

Additionally, the agreement includes provisions for digital trade, services, investment, and intellectual property. It outlines cooperation on supply chain resilience and national security. Furthermore, the collaboration between Air Cambodia and Boeing is underscored, highlighting ongoing developments in the aviation sector. The United States will take into account the implications of this agreement on national security in future trade decisions.

As both countries advance towards finalizing the necessary domestic processes, the Reciprocal Trade Agreement is anticipated to come into effect soon. This initiative aims to enhance bilateral trade, tackle existing trade barriers, and promote cooperation across various sectors, paving the way for mutual economic benefits.

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