Thailand finalises US trade strategy ahead of talks next week
The South-east Asian nation’s negotiation stance will be based on a strategy approved by a working group headed by Paetongtarn
[BANGKOK] Thailand aims to hold talks with Trump administration officials next week to secure relief from a planned 36 per cent reciprocal tariff on its goods, with officials finalising a set of proposals including to cut its US$46 billion trade surplus with the US.
A delegation headed by Deputy Prime Minister and Finance Minister Pichai Chunhavajira is preparing to meet with US trade officials in Washington on Apr 21, government spokesperson Jirayu Houngsub said on Monday (Apr 14). Pichai will also travel to Seattle later this week to meet with American businessmen from the agricultural, industrial and investment sectors, he said.
The negotiation team that includes Commerce Minister Pichai Naripthaphan will adhere to the principle that “Thailand is a constructive partner” of the US, and committed to “creating a trade balance and strengthening sustainable economic partnership”, Jirayu said.
Prime Minister Paetongtarn Shinawatra’s administration has said the higher-than-expected levy on its shipments to the US – Thailand’s largest export market – could shave off at least one percentage point of its growth this year if it’s not negotiated down. The South-east Asian nation has publicly stated its willingness to step up imports of US farm goods such as corn for its animal feed industry, energy products including natural gas and ethane, besides reducing import duties and removing non-trade barriers.
Thailand’s trade surplus with the US more than doubled to US$46 billion last year from about US$17 billion at the beginning of Donald Trump’s first term. In contrast, the trade deficit with Beijing ballooned to US$45 billion in 2024 from below US$20 billion in 2018 as Chinese companies stepped up investment to dodge high US tariffs.
Thai officials are pledging to crack down on the misuse of certificate of origin by Chinese companies attempting to circumvent high US tariffs, besides painting any deal with Washington as an opportunity to reset its import policies. They will also relay Thailand’s concerns over the fall out of the 145 per cent US tariff on Chinese goods on local manufacturing, fearing a flood of cheap goods being imported.
Thailand’s negotiation stance will be based on a strategy approved by a working group headed by Paetongtarn, which has taken feedback from local business groups and experts, Jirayu said. BLOOMBERG
Share with us your feedback on BT's products and services
