Regarding the new 40 per cent tax rate that U.S. President Donald Trump announced to impose on exports from Myanmar, negotiations will be carried out, said Maj-Gen Zaw Min Tun, Information Team Leader of the State Administration Council (SAC).
Trump sent a notification on July 7 to Chairman of the SAC Senior General Min Aung Hlaing that the new tariff rate on Myanmar’s exports to the United States will be imposed starting August 1.
The tariff rate will now be reduced to 40 percent, down from 45 per cent previously announced.
Maj. Gen. Zaw Min Tun stated that Myanmar government will engage positive negotiations on the US tariff rate.
He added that he hopes to achieve mutually beneficial results from the negotiations.
Trump also wrote that the new tariff rate will pave the way for significant trade cooperation between Myanmar and the United States.
Trade between Myanmar and the United States reached $701.9 million in 2023-2024 financial year and $588.3 million in 2024-2025 financial year.
Trump also sent similar letters to leaders of Japan, South Korea and several other countries, including Myanmar, announcing the new tariffs, which he posted on his Truth Social platform.
