Trump Begins Asia Tour with Trade Agreements

On Sunday, President Trump kicked off his Asia tour, signing several trade deals and treaties focused on cooperation in critical minerals with important Asian nations.

In Malaysia for the Association of Southeast Asian Nations (ASEAN) summit, Trump facilitated a peace agreement between Cambodia and Thailand. Afterward, he proceeded to sign trade agreements with Cambodia, Thailand, and Malaysia.

Under the agreements, the U.S. will retain 19% tariffs on imports from these three countries. Cambodia has committed to removing tariff barriers on all U.S. products, while Thailand will eliminate barriers on 99% of American goods, according to the memorandum of understanding.

The countries involved are also required to work on getting rid of “non-tariff barriers.”

U.S. Trade Representative Jamison Greer remarked that these significant agreements show how the U.S. can create new markets for American businesses while keeping tariffs in place and addressing the trade deficit. He expressed gratitude to Malaysia, Cambodia, Thailand, and Vietnam for teamwork towards a more equitable trade relationship with the U.S.

Along with trade agreements, the U.S. has established partnerships with these nations for collaboration on critical minerals essential in electronics and consumer goods. The importance of these minerals has increased since China revealed plans to tighten its export controls on raw materials earlier this month.

In the agreement, Malaysia committed to not imposing quotas on critical mineral exports to the United States.

This trade deal is seen as a crucial part of Trump’s week-long trip across Asia. While in Malaysia, he also met with Brazil’s president to discuss tariffs and trade, and he intends to address these topics with the Japanese prime minister and South Korean leaders.

Trade will also be a central theme during Trump’s upcoming meeting with Chinese President Xi Jinping, set to take place at the Asia-Pacific Economic Cooperation Forum later in the week.