On May 12, Suphajee Suthumpun, Deputy Prime Minister and Minister of Commerce, revealed the details of her discussion with Jamieson Greer, United States Trade Representative (USTR), and Rick Switzer, Deputy U.S. Trade Representative, on May 4, aiming to accelerate negotiations for the Agreement on Reciprocal Trade (ART).
Suphajee stated that the Thai delegation currently remains in the United States to conduct technical discussions on two key topics: asset capacity and forced labour. During her visit to Washington, D.C., she clarified all points regarding Thailand’s position from as early as 15 April, and stated there are no issues hindering progress.
Both parties reaffirmed commitment to maximize benefits from Thai-U.S. trade cooperation. Simultaneously, Thailand is making efforts to push forward the previously stalled ART agreement from the former administration to completion before an investigation under Section 301 of the U.S. Trade Act of 1974 begins. The talks also covered Thai products, for which Thailand records a trade surplus with the U.S.
Data indicate that last year, Thailand’s trade surplus with the U.S. increased considerably compared to the year before. Thailand clarified that at least 30% of the increased surplus products are from U.S. companies investing in Thailand, and more than 20% are from Thai companies. Therefore, regarding concerns about transshipment, Thailand has documents and data ready to explain all the relevant facts.
