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Thai Deputy PM to travel to US for trade talks next week

Thailand faces a 36% US tariff on its exports if it fails to negotiate a reduction before a moratorium expires in July.

Thai Deputy Prime Minister and Minister of Finance Pichai Chunhavajira (Photo: Nation Thailand)
Thai Deputy Prime Minister and Minister of Finance Pichai Chunhavajira (Photo: Nation Thailand)

Bangkok (VNA) – Thai Deputy Prime Minister and Minister of Finance Pichai Chunhavajira said on June 27 that he will travel to the US for trade talks next week.

Thailand faces a 36% US tariff on its exports if it fails to negotiate a reduction before a moratorium expires in July. A tariff of 10% has been set for most nations while the moratorium is in place.

Pichai refuted widespread reports claiming that the US has imposed an 18% import tax on Thai goods, clarifying that the figure is merely an "estimate" used by the Bank of Thailand and economists for modelling potential economic impacts.

The Southeast Asian nation began its much-delayed talks with the US to negotiate down the levy and submitted an official proposal on June 20 following working-level talks, Permanent Secretary for Commerce Vuttikrai Leewiraphan said on June 18.

Thailand’s proposals are good and stand a chance of bringing down the tariff to the 10% baseline, according to Vuttikrai./.

VNA
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