Thailand is set to engage in discussions with officials from the Trump administration next week to seek relief from a proposed 36% reciprocal tariff on its goods, with government officials finalizing a range of proposals aimed at reducing its US$46 billion trade surplus with the United States.
Deputy Prime Minister and Finance Minister Pichai Chunhavajira, along with Commerce Minister Pichai Naripthaphan, will lead Team Thailand, the nation’s negotiating team, in talks anticipated to take place in Washington DC on April 21, as announced by government spokesperson Jirayu Houngsub on Monday.
The finance minister will first travel to Seattle to meet with business operators from the agricultural, industrial, and investment sectors from April 17. He will be joined by the commerce minister on April 20, and the two will proceed together to Washington DC for the negotiations with the Trump administration on April 21, according to the spokesperson.
On Friday, the government committee responsible for monitoring the US’s reciprocal tariff situation summarized proposals and ideas gathered from all relevant ministries, private parties, and organizations in preparation for the discussions with the US.
These contributors include the Federation of Thai Industries (FTI), the Board of Trade of Thailand, as well as top executives from various companies, importers, and exporters of agricultural and industrial products, Mr. Jirayu noted.
All proposals will undergo a final review on Tuesday before being submitted to the negotiating team for their upcoming discussions with the US. The committee has been compiling data and information in preparation for these anticipated talks since January.
The primary goal of these negotiations is to improve the trade balance between Thailand and the US, while also promoting sustainability in the economic partnership between the two nations and laying the groundwork for more in-depth future discussions, stated Mr. Jirayu.
In pursuit of a favorable resolution to the US tariff situation, the Thai government’s negotiating team will adhere to five core principles that have been established.
First, Thailand is dedicated to maintaining its mutual trade and economic partnership with the US in sectors that will benefit both parties, particularly in agriculture, food, and technology.
Second, Thailand is prepared to open new markets and reduce import duties on additional products from the US, especially maize.
Third, with the aim of lowering its trade surplus with the US, Thailand plans to increase imports of essential products from the US, including natural gas, petrochemicals, commercial aircraft, cheese, walnuts, cherries, and apples.
Fourth, Thailand will enhance its product inspection system for goods shipped to the US to ensure that products from other countries are not routed through Thailand to evade tariffs.
Lastly, Thailand intends to support Thai investors in expanding their investments in specific processing industries in the US, primarily utilizing local US supplies of materials and ingredients, and exporting products made there to other markets.
Prime Minister Paetongtarn Shinawatra has been consistently updated on the topics the negotiating team will address during the upcoming talks with the US and has approved their strategy.
