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Thai council urges ASEAN unity in US trade talks

The National Economic and Social Development Council (NESDC) of Thailand has recommended that Thailand collaborate with other ASEAN nations to negotiate trade agreements with the US to avoid high import tariffs and penalties.

Tourists in Bangkok, Thailand (Photo: VNA)
Tourists in Bangkok, Thailand (Photo: VNA)

Bangkok (VNA) – The National Economic and Social Development Council (NESDC) of Thailand has recommended that Thailand collaborate with other ASEAN nations to negotiate trade agreements with the US to avoid high import tariffs and penalties.

NESDC Secretary-General Danucha Pichayanan warned that the US is likely to increase import tariffs against nations that enjoy trade surplus before initiating trade talks with them.

He said Thailand alone would not have enough bargaining power to effectively negotiate lower tariffs with the new US administration under Donald Trump, according to the Thai English-language news site The Nation.

Danucha highlighted a growing concern over Chinese companies relocating their production bases to Thailand to evade tariffs. He proposed that the Board of Investment (BOI) encourage Chinese firms in targeted industries to establish partnerships in Thailand.

Currently, many Chinese companies register as new entities in Singapore, which then invest in Thailand, Danucha said.

He added that the BOI also should consider offering Chinese companies investment privileges if they have Thai partners. /.

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