Thailand targets reduction in US trade surplus to 20 billion USD

Thailand is aiming to reduce its trade surplus with the US to 20 billion USD by importing more US products, according to head of the country’s industry ministry's industrial economics office Passakorn Chairat.

Monday, March 31, 2025 17:00

Hanoi (VNA) - Thailand is aiming to reduce its trade surplus with the US to 20 billion USD by importing more US products, according to head of the country’s industry ministry's industrial economics office Passakorn Chairat.

The US was Thailand's largest export market last year, accounting for 18.3% of total shipments, or 54.96 billion USD.

In a briefing, Passakorrn said the government would increase imports of agricultural products such as corn, soybeans, and ethylene, which may affect domestic products.

The commerce ministry has said Thailand had a trade surplus with the US of 35.4 billion USD last year.

US President Donald Trump has set a deadline of next week for federal agencies to complete comprehensive reviews of a range of trade issues, including analyses of persistent US trade deficits.

Thai Finance Minister Pichai Chunhavajira said the coutnry’s exports of auto parts will be affected by newly imposed US tariffs./.

VNA

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