BANGKOK, May 15 (TNA) – Thailand has presented the US with five proposals aimed at resolving the ongoing tariff issue, according to Deputy Prime Minister and Finance Minister Pichai Chunhavajira.
He expressed optimism that negotiations could lead to a reduction in US import tariffs on Thai goods to 10%, down from the current 36%.
Pichai noted that larger countries with similar export products have already engaged in such negotiations. He believes Thailand is not too late in the process and anticipates reaching a conclusion around the same time as other nations currently scheduling negotiation dates.
The five Thai proposals, endorsed by the Thai Prime Minister and submitted to the USTR on May 8, focus on enhanced economic partnership in processing, data centers, and AI, alongside a commitment to reduce trade barriers.
Thailand also expressed readiness to increase imports of US energy, agricultural goods, and aircraft, and to open its agricultural market further for processing. To ensure fair trade, Thailand pledged stricter enforcement of rules of origin. A high-level delegation, including the Thai Trade Representative and business leaders, is currently in the US to explore investment opportunities.
The Thai government views positive remarks from US Treasury Secretary Scott Bessent on their proposals as encouraging, with the US expected to assign officials for detailed talks.
Thailand believes this initiative will lead to a mutually beneficial economic relationship, boosting both imports and ultimately exports through domestic value-added processing. -819 (TNA)
