US agrees to begin formal tariff negotiations with Thailand

On June 8, the Bangkok Post reported that the US has agreed to start formal tariff negotiations with Thailand.

A container ship at Bangkok port - Photo: AFP

The above information was quoted by the Bangkok Post from Thai Deputy Prime Minister and Finance Minister Pichai Chunhavajira when he revealed it in a short video on Facebook last weekend.

In the video, he recounted Thai Foreign Minister Maris Sangiampongsa reporting that the US had given an official response to Thailand, saying it would begin negotiations on bilateral trade and tariffs.

Mr. Pichai noted that Thailand and the US have had informal discussions on this issue, and he believes that the proposals from the Thai side will benefit both sides.

"This does not mean that we have just started. In fact, there have been informal negotiations. We have discussed within our group and think that the content of the discussions is beneficial to both sides. I will continue to report on developments related to the upcoming formal negotiations," the Thai Finance Minister stressed.

He did not say when formal talks would begin.

Thailand will face tariffs of up to 36% if it fails to negotiate tariff reductions with the US before a tariff moratorium expires in July.

According to the Pattaya Mail newspaper on June 9, Thailand has sent a five-point proposal to the US with the aim of reducing Thailand's trade surplus with the US by 50% within five years. The main points include:

(1) Strengthen economic partnerships, particularly in manufacturing and digital technology, while addressing tariff and non-tariff trade barriers.

(2) Increase imports from the US, focusing on energy products (crude oil, liquefied natural gas, ethane), agricultural products (corn, soybeans, beef), aircraft and components, and defense equipment.

(3) Expanding Thailand's agricultural exports to the US, especially fruits and corn used as animal feed.

(4) Strictly enforce regulations on goods origin to prevent fraudulent declarations of Thai origin.

(5) Promote Thai investment in the US.

The Thai government hopes the talks will help mitigate the impact of US tariffs, which target countries with trade surpluses, including Thailand. The goal of the talks is to balance trade relations and strengthen bilateral ties between Thailand and the US.

PEACEFUL

Source: https://tuoitre.vn/my-dong-y-bat-dau-dam-phan-thue-quan-chinh-thuc-voi-thai-lan-20250609081249423.htm