PHNOM PENH: The Asian Development Bank (ADB) cautioned that higher US tariffs on Cambodian products could slow growth and worsen unemployment, according to a policy brief released Tuesday.
“Current tariffs are manageable, but higher ones would have dire consequences for Cambodian families through unemployment and poverty,” said ADB country economist Milan Thomas, lead author of the report.
The United States imposed a 19 per cent tariff on Cambodian imports on Aug 1. The ADB said further hikes could reduce growth by nearly one percentage point, cost over 100,000 jobs, and raise the poverty rate by a similar margin.The bank urged Cambodia to strengthen social support, retraining, and long-term competitiveness through infrastructure and business reforms to cushion future shocks. – AFP
