The military council said it would negotiate with the United States over the 40 percent tariff hike on Myanmar exports.
The military council said this evening that it had received a letter from President Trump announcing the tariff hike.
“We will conduct positive negotiations on this letter. We hope to achieve mutually beneficial results,” said Maj. Gen. Zaw Min Tun, spokesman for the military council.
Myanmar’s exports to the United States in the past two years amounted to nearly $1,289 million, he said.
Despite the military council’s announcement that it would negotiate over the tariff hike, the Office of the U.S. Trade Representative (USTR) has suspended diplomatic engagements, discussions, and cooperation under the U.S.-Myanmar Trade and Investment Framework due to the 2021 military coup and the military’s crackdown on the public.
The suspension is expected to last until 2021. The USTR website states that the suspension will remain in effect from March 29 until a democratically elected government returns to power in Myanmar.