Trump signs trade and critical mineral agreements with Thailand, Malaysia, and Cambodia, and signs a Thai-Cambodian ceasefire agreement. Three countries' tariffs at 19%
US President Donald Trump on Sunday signed a series of trade and critical mineral agreements with three Southeast Asian countries in Kuala Lumpur, and signed a Thai-Cambodian ceasefire agreement. Washington is seeking to diversify supply chains against the backdrop of the trade war with China.
The White House host is attending the Association of Southeast Asian Nations (ASEAN) Summit in Kuala Lumpur, and he signed reciprocal trade agreements with the leaders of Thailand, Malaysia, and Cambodia.
According to a joint statement released by the White House, the US will maintain a tariff rate of 19% on most exports from these three countries under the framework of these agreements.
Donald Trump also signed agreements with Thailand and Malaysia aimed at diversifying the supply chain for critical minerals to counter Beijing's competition in this rapidly developing field.
China, the world's largest producer and processor of rare earths, has imposed increasingly strict export controls on its refined technologies.
Therefore, companies around the world are looking for other sources to supply key minerals needed in areas such as semiconductors, electric vehicles, and military equipment.
On Sunday, the two countries stated in a statement: Malaysia agreed not to impose a ban or quota restrictions on the export of critical minerals or rare earth elements to the United States.
However, the statement did not clearly state whether Malaysia's commitment applies to raw or processed rare earths.
Malaysia has about 16.1 million tons of rare earth reserves. To avoid resource loss, the country prohibits companies from exporting rare earth raw materials and is committed to developing downstream industries.
Trump attended the signing ceremony of the Thai-Cambodian ceasefire agreement. This summer, conflicts along the border between the two countries resulted in more than 40 deaths and tens of thousands of displaced people. Trump helped negotiate this ceasefire agreement.
Photos from Reuters show that Malaysian Prime Minister Anwar, Thai Prime Minister Anutin, Cambodian Prime Minister Hun Manet, and US President Trump all signed the Thai-Cambodian ceasefire agreement.
Source: rfi
Original: www.toutiao.com/article/1847101458699276/
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