Cambodian PM says 19% US trade tariff 'the best news'

PHNOM PENH, Aug 1 (AFP): Cambodian Prime Minister Hun Manet on Friday welcomed a 19 percent trade tariff imposed by US President Donald Trump, avoiding a threatened levy of 36 percent.

"This is the best news for the people and economy of Cambodia to continue to develop the country," Hun Manet wrote on Facebook.

Trump had originally threatened a swingeing 49 percent tariff on Cambodia as part of his "Liberation Day" measures aimed at rebalancing world trade in America's favour, but cut it to 36 percent last month.

Dozens of countries face steep levies under the tariff regime approved by Trump in Washington on Thursday, set to come into force in a week.