ISTANBUL

The US signed trade agreements with Malaysia and Cambodia and a critical minerals deal with Thailand on Sunday, after overseeing the signing of a peace accord between Phnom Penh and Bangkok in Kuala Lumpur.

US President Donald Trump presided over the ceremony, alongside Malaysian Prime Minister Anwar Ibrahim, joined by Cambodian Prime Minister Hun Manet and Thai Prime Minister Anutin Charnvirakul.

"Alongside this peace treaty, we also are signing a major trade deal with Cambodia and a very important critical minerals agreement with Thailand," Trump said.

He tied continued economic cooperation to maintaining peace between Cambodia and Thailand. "The United States will have robust commerce and cooperation, transactions ... with both nations, as long as they live in peace," he said. The two countries had ended border hostilities back in July.

Charnvirakul announced a joint statement "on the framework for US-Thailand agreement on reciprocal trade," aiming to conclude tariff negotiations by the end of 2025.

According to the statement, Thailand agreed to eliminate tariffs on approximately 99% of goods, with the US maintaining 19% reciprocal tariffs.

The framework trade deal addresses non-tariff barriers, labor rights, environmental protection, intellectual property, including geographical indications, and digital trade commitments.

The governments also signed a memorandum of understanding on critical minerals cooperation, "which will further promote resilient and sustainable supply chains for years to come," Charnvirakul said.

The MoU aims to strengthen Thailand's resource sector governance, promote US-Thai company partnerships, and integrate Thailand into secure global supply chains.

Both nations will share technical expertise, coordinate on priority projects, and protect their critical minerals markets from unfair trade practices.

- 'Great for both countries'

Cambodia is committed to eliminating tariffs on 100% of US industrial goods and agricultural products, while Washington will maintain 19% reciprocal tariffs.

The agreement addresses non-tariff barriers, protects internationally recognized labor rights, and includes commitments on digital trade, services, investment, intellectual property, and state-owned enterprise practices.

Air Cambodia will partner with Boeing to develop the country's aviation ecosystem.

Trump called the Cambodia trade deal "great for both countries."

- Comprehensive deal with Malaysia

With Malaysia, besides the "historic" trade deal, a memorandum of understanding, which will lead to an expansion of trade and investments in critical minerals, was also signed.

US trade representative Jamieson Greer said the memorandum “ensures that trade investment in critical minerals between Malaysia and the United States can be as free as possible and as resilient as possible.”

He said these minerals are crucial for manufacturing, technology and the US economy, and underlined the importance of a smooth and secure supply chain.

Under the trade deal, Malaysia committed to providing significant preferential access for the US industrial goods, including chemicals, machinery, metals, and vehicles, as well as agricultural exports and fuel ethanol.

Malaysia pledged to address non-tariff barriers, enforce environmental laws, combat counterfeit markets, and prevent forced labor. The agreement includes commitments on intellectual property, digital trade, and state-owned enterprises.

Kuala Lumpur also committed to refraining from banning or imposing quotas on critical minerals and rare earth exports to the US.

The agreements note significant commercial transactions, including Malaysia's procurement of 30 aircraft with options for 30 more, $150 billion in semiconductor, aerospace components, data center equipment and up to $3.4 billion annually in liquified natural gas purchases, and $70 billion in US capital fund investments.

A separate US-Malaysia critical minerals memorandum mirrors Thailand's agreement, focusing on sector governance, bilateral partnerships, and supply chain security.

In 2024, the US-Malaysia total trade volume was $86.5 billion, the US-Cambodia trade valued at $13.5 billion, while the US and Thailand exchanged $88.3 billion worth of goods and services.