FX.co ★ Myanmar Asks Trump to Reduce 40% Tariff on Exports

Myanmar's military leader has urged former US President Donald Trump to reconsider the 40% tariff imposed on the country's exports to the United States. State media reported on Friday that General Min Aung Hlaing expressed Myanmar's willingness to dispatch a negotiation team to Washington if required. In reply to Trump's letter regarding the tariff, General Min Aung Hlaing suggested reducing the tariff to a range of 10% to 20%. Additionally, he offered to lower Myanmar's tariffs on US imports to between 0% and 10%. Previously, Trump had unveiled tariffs for 14 countries, with Myanmar subjected to a 40% rate, a reduction from 44% in April. Meanwhile, on Thursday, a White House representative noted that President Trump and Philippine President Ferdinand Marcos Jr. are set to have their first bilateral discussion in Washington on July 22. This follows Trump's declaration on Wednesday that the Philippines could see a potential 20% tariff hike.