Significant progress has been reported in the ongoing trade and tariff negotiations between Thailand and the United States, with Thailand’s lead negotiator expressing confidence that the latest proposals will be mutually beneficial and help modernize the Thai economy.
Pichai Chunhavajira, Thailand’s Deputy Prime Minister and Minister of Finance—who also serves as head of the Thai trade and tariff negotiating team (Team Thailand)—shared updates on the talks via his personal Facebook account. He confirmed that a second official meeting with the U.S. Trade Representative (USTR) was held via video conference on the evening of 17 July.
Key developments from the talks include:
- Thailand had previously submitted an updated proposal.
- During the latest official discussion, Thailand presented additional proposals.
- Mr. Pichai emphasized that the revised proposals are believed to be “on target” and “satisfactory” to the U.S., while also ensuring a “balance” of benefits for the Thai people and Thai industries.
Extensive Consultations Underpin Thai Strategy
Before finalizing the proposals, the Thai team conducted comprehensive consultations and “stress tests” with various sectors, including business and agriculture. These sectors provided “beneficial opinions,” and many reportedly view the current negotiations as a “good opportunity” for Thailand to “overhaul its economy” and “improve its structure.”
Mr. Pichai expressed gratitude to all stakeholders for their constructive input, noting their focus on the “overall picture of the country” and their commitment to Thailand’s ongoing development, which culminated in the latest proposals. He also thanked “Team Thailand,” comprising members both in Thailand and in Washington, D.C., across all relevant ministries and sectors, for their continued efforts.
Tariff Rates Awaiting U.S. Presidential Review
Regarding the specific tariff rates Thailand might receive, Mr. Pichai stated that he has been informed that the meeting’s results will be reported to the U.S. President. Updates on this matter will be communicated by the U.S. once available.
The Deputy Prime Minister concluded by noting that the process is still ongoing, with further “documentation work” required. He assured that “Team Thailand” stationed in Washington, D.C., will continue to “closely monitor the situation.”
