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Light ahead for US-Thailand trade deal after ceasefire with Cambodia

Steep US levy of 36% set to deal a heavy blow to Thailand’s export-reliant and faltering economy

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    • Thailand’s domestic consumption remains sluggish, crippled by high household debt (88% of GDP), which cuts into spending.
    • Thailand’s domestic consumption remains sluggish, crippled by high household debt (88% of GDP), which cuts into spending. PHOTO: AFP

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    Peter Janssen

    Published Mon, Jul 28, 2025 · 11:35 AM — Updated Mon, Jul 28, 2025 · 11:07 PM

    [BANGKOK] After months of uncertainty over the tariff rate imposed on its exports to the US, last week’s deadly border clash between Thailand and Cambodia added fresh geopolitical risk to an already tense trade stand-off.

    The news of Monday’s (Jul 28) ceasefire agreement between the nations brings hope of a potential trade deal with the US.

    Fighting had broken out on Thursday along the Thai-Cambodian border, killing at least 32 people and displacing more than 200,000 civilians. The violence came as Thailand struggles to finalise a trade agreement with Washington, even as regional peers Indonesia, Vietnam and the Philippines have secured deals that cap US tariffs at 19 to 20 per cent.

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