Thailand expects to receive details of the new U.S. import tariffs “within 24 hours,” according to Finance Minister Pichai Chunhavajira on Thursday morning.
In response to reports citing U.S. Commerce Secretary Howard Lutnick, who claimed that a trade agreement had been finalized, Mr. Pichai stated that Thailand was still working “a little bit more” with Washington to finalize the details.
“Please don’t ask me to say anything definitive just yet. There’s a bit more I need to clarify with the U.S.,” he told Reuters.
Earlier, Mr. Lutnick announced that the United States had reached trade agreements with Cambodia and Thailand, shortly after they agreed to a ceasefire following deadly clashes along their disputed border, prompted by President Donald Trump.
During a Fox News interview with Sean Hannity Wednesday night, Lutnick stated, “And you know what we did today? We made trade deals with Cambodia and Thailand,” but he did not provide further details before the interview concluded.
The White House and the Commerce Department have yet to respond to requests for additional information.
Trump has previously used trade negotiations as leverage to bring both countries to the table, warning that trade agreements would be delayed as long as the border conflicts persisted.
Following the ceasefire confirmation, Trump contacted leaders from both nations and instructed his trade team to resume talks.
Thailand and Cambodia are currently facing the threat of a 36% U.S. tariff on their exports, which would significantly disadvantage them compared to neighboring countries facing tariffs of 20-25%.
Mr. Pichai expressed optimism that the final U.S. tariff rate for Thailand will be around 20%.
“The Thai negotiating team is diligently and thoroughly working through every aspect, including trade data, international law, production impacts, exports, and economic security,” he posted on X (formerly Twitter) Thursday.
“We’ve proposed conditions that aim to protect Thailand’s best interests and have carefully analyzed the U.S. demands. While the outcome remains uncertain, I assure you that Thailand’s team will not sit idly by or concede easily.”
Saturday is the deadline set by Trump for U.S. trading partners to reach agreements. Late Wednesday, the U.S. announced an accord with South Korea, which will impose a 15% tariff on imports.
Additionally, Trump announced a 25% tariff on Indian goods beginning Friday and threatened further penalties over India’s energy purchases from Russia.