Bangkok: The country’s finance minister said on Tuesday that Thailand will form imports from the United States, reduce some customs tariffs on American products, and work to reduce non -fire barriers.
Import tax exceeded 36 % imposed on Thailand-the second largest economy in Southeast Asia-from the administration of US President Donald Trump expectations and is among the highest in the region. Finance Minister Pichai Chhunhavagira, who will lead the Thai negotiations, said that the country was not rushing to talks in Washington, noting that the government needs time to prepare its proposals.
Bishi added that Thailand hopes to balance its trade with the United States during a decade. Before the tariff increased, the government was aimed at 3 % GDP growth for 2025, up from 2.5 % in 2024 – a number that already failed to regional averages.
To help compensate for the effect of customs tariffs, the government plans to increase American imports, including corn, soybeans, raw oil, ethane, migration, liquefied natural gas, cars, electronics and aircraft, while reviewing the restrictions imposed on American pork. According to Thai data, the country occupied a 35.4 billion dollar trade surplus with the United States last year, although Washington’s estimate increases the deficit, reaching 45.6 billion dollars.
After the tariff news, the standard stock index in Thailand decreased (in response, the Thailand Stock Exchange introduced temporary measures, half of the daily trading limits to 15 % and suspended on the open sale to reduce fluctuations.
Prime Minister Paetongtarn Shinawatra confirmed a meeting with the American Trade Representative, although no details are shared. She urged Thai exporters to explore alternative markets to reduce the risk of dependency and said that the government will provide relief support to companies that are harmed by definitions.
Pichai has warned that the new American tariff can fly a full percentage of GDP growth in Thailand this year in its economy, which he greatly moves.
