U.S. President Trump on Sunday signed a series of trade agreements and deals focused on cooperation in critical minerals with major Asian partners during his official visit to Asia.

Trump arrived in Malaysia to attend the Association of Southeast Asian Nations (ASEAN) Summit and witnessed the signing of a peace agreement between Cambodia and Thailand. Afterward, he signed trade agreements with Cambodia, Thailand, and Malaysia.

Under the terms of the agreements, the United States will maintain a 19% tariff on imports from Cambodia, Thailand, and Malaysia. In response, Cambodia agreed to remove tariffs on all U.S. goods, while a memorandum of understanding with Thailand indicated it would eliminate tariffs on 99% of American products.
The agreements require all three countries to collaborate on removing ‘non-tariff barriers.’

“These landmark deals demonstrate that America can maintain tariffs to shrink the goods trade deficit while opening new markets for American farmers, ranchers, workers, and manufacturers,” U.S. Trade Representative Jamieson Greer said.

Alongside the trade agreements, the U.S. signed deals with all three countries to cooperate on the processing and export of critical minerals, essential for electronics and everyday products. The focus on these minerals has intensified after China declared earlier this month that it would tighten export controls on them.
As part of the agreement, Malaysia will not set any limits on critical mineral exports to the United States.

Trade agreements are anticipated to play a key role in Trump’s week-long visit to Asia. While in Malaysia on Sunday, the president held talks with Brazil’s president, focused on tariffs and trade. He is also expected to address the topic with Japan’s prime minister and leaders from South Korea.
Later this week, Trump and Chinese President Xi Jinping are scheduled to hold talks on the sidelines of the Asia-Pacific Economic Cooperation Forum.

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