The White House has announced a series of new trade and cooperation agreements with Malaysia, Cambodia, Thailand, and Vietnam. These agreements include Memoranda of Understanding (MOUs) on critical minerals, framework agreements, and joint statements on trade, investment, and border peace.
Cambodia
Cambodia’s agreement appears to be the most developed, with complete annexes and schedules released. The agreement reduces reciprocal duties on a wide range of products—largely those included in Annex III of the reciprocal tariffs—effective immediately.
- Products not covered by these reductions will remain subject to a 19% reciprocal duty, in addition to the MFN rate.
- A new Rules of Origin provision allows Cambodia to implement measures ensuring that trade benefits accrue to US and Cambodian nationals—an indicator of increased attention to illegal transshipment risks.
Malaysia
Malaysia’s agreement includes annexes but not yet the corresponding schedules, leaving uncertainty over which products are excluded from the reciprocal tariffs.
- For all other goods, the 19% reciprocal tariff will remain in effect.
- The Rules of Origin section mirrors Cambodia’s, allowing both parties to establish measures ensuring that benefits are not diverted through third countries.
Thailand
The US and Thailand issued a Joint Statement on Peace at the Cambodian Border, a Framework Agreement, and an MOU on Critical Minerals.
- While full tariff details are forthcoming, the US will continue to apply 19% reciprocal tariffs, with Annex III items under negotiation for future exclusion.
- Thailand has committed to increased investment in the US and additional purchases of US oil and aircraft as part of the broader cooperation framework.
Vietnam
The US and Vietnam released a Joint Statement on a Framework Agreement, with additional details expected in the coming weeks.
- The US will maintain 20% reciprocal tariffs on all products except those to be negotiated under Annex III.
- Vietnam has agreed to expand purchases of US goods, including Boeing aircraft and over $2.9 billion in US agricultural products, underscoring the countries’ growing economic partnership.
Schedules for Cambodia and Malaysia will be reviewed against Annex III of the reciprocal tariffs to confirm product coverage and duty impacts. Once finalized, these agreements are expected to clarify which goods will benefit from reduced tariffs and how rules of origin will be applied to prevent tariff circumvention.
Mohawk Global will continue to monitor developments and provide guidance as the details of these agreements are released.