United States announces trade agreements and frameworks with Cambodia, Malaysia, Thailand, and Vietnam

Reciprocal tariffs maintained while also addressing non-tariff barriers

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october 27, 2025

The White House on October 26, 2025, announced several trade agreements and frameworks aimed at enhancing bilateral economic relationships with Cambodia, Malaysia, Vietnam, and Thailand.

  • Trade agreement with Cambodia: The United States and Cambodia have agreed to a reciprocal trade agreement to eliminate tariffs on 100% of U.S. industrial goods and U.S. food and agricultural products exported to Cambodia. The United States will maintain 19% reciprocal tariffs on certain products and identify products from Cambodia eligible for a 0% reciprocal tariff rate. In addition, Cambodia committed to addressing non-tariff barriers and protecting labor rights and environmental standards. The agreement also includes commitments on digital trade and intellectual property. Read the agreement and joint statement as posted on the White House website.
  • Trade agreement with Malaysia: The United States and Malaysia have reached an agreement on reciprocal trade. Malaysia will provide significant preferential market access for U.S. exports, and both countries will address tariff and non-tariff barriers. The agreement includes commitments on digital trade, intellectual property, and environmental protection. Additionally, a memorandum of understanding was signed to diversify global critical minerals supply chains and promote investments. Read the agreement,  fact sheet, and joint statement as posted on the White House website.
  • Trade framework with Thailand: The United States and Thailand have agreed on a framework for an agreement on reciprocal trade. Thailand will eliminate tariff barriers on 99% of goods, and both countries will work together to address non-tariff barriers. The United States will maintain 19% reciprocal tariffs while identifying products eligible for 0% tariffs. The framework includes commitments on labor rights, environmental protection, and digital trade. A memorandum of understanding was also signed to diversify global critical minerals supply chains and promote investments. Read the joint statement as posted on the White House website.
  • Trade framework with Vietnam: The United States and Vietnam have agreed to a framework for an agreement on reciprocal, fair, and balanced trade. Key terms include Vietnam providing preferential market access for U.S. exports and the United States maintaining 20% reciprocal tariffs while identifying products eligible for 0% tariffs. Both countries will address non-tariff barriers and finalize commitments on digital trade, services, and investment. Read the joint statement as posted on the White House website.

For more information, contact a professional with KPMG Trade & Customs services:

Andrew Siciliano
Partner, U.S. & Global Practice Leader

E: asiciliano@kpmg.com

Doug Zuvich
Partner

E: dzuvich@kpmg.com

Irina Vaysfeld
Principal

E: ivaysfeld@kpmg.com

John L. McLoughlin
Principal

E: jlmcloughlin@kpmg.com

Luis (Lou) Abad
Principal

E: labad@kpmg.com

George Zaharatos
Principal

E: gzaharatos@kpmg.com

Christopher Young
Principal

E: christopheryoung@kpmg.com

Amie Ahanchian
Principal

E: aahanchian@kpmg.com

Gisele Belotto
Principal

E: gbelotto@kpmg.com

Steve Brotherton
Principal

E: sbrotherton@kpmg.com

Jessica Libby
Principal

E: jlibby@kpmg.com

Dawn Olesky
Principal

E: dolesky@kpmg.com

Frances Xing
Principal

E: francesxing@kpmg.com

 

 

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