Tensions along the Thailand-Cambodia border stem from longstanding territorial disputes, particularly around ancient temple sites like Preah Vihear, that escalated into armed clashes in July 2025 and again in December 2025. Thai forces conducted F-16 airstrikes and ground operations in response to Cambodian rocket and artillery fire during those periods, leading to civilian displacements and casualties on both sides. A ceasefire agreed on December 27, 2025, has largely held into mid-2026, though sporadic incidents, mutual accusations, and nationalist pressures continue to test it. Thailand closed multiple border crossings in June 2026 citing security concerns, while Cambodia has reiterated commitments to international law and border demarcation. Diplomatic efforts involving ASEAN members, the United States, and China remain active, with defense-level talks and monitoring mechanisms in place. Trader sentiment on further Thai strikes reflects assessments of whether these fragile restraints will hold amid domestic political dynamics in both countries.