Pichai Chunhavajira, Deputy Prime Minister and Ministry of Finance of Thailand, stated that Prime Minister Paetongtarn Shinawatra will be the chairwoman of today’s meeting at 13:00 PM to discuss the trip to the U.S. to negotiate about President Donald Trump’s tariff.
The finance minister added that there will be an official statement this afternoon about the schedule.
Over the weekend, the Thai government expressed concerns over the increased import tariffs for Thai goods in the U.S. that could be as high as 47%. The increase could have a huge impact on Thai exports, which is one of the main contributors to the economic growth. Electronic parts, processed foods and agricultural products are among the most vulnerable sectors.
The Thai government has proposals aimed at balancing trade, such as increasing imports of U.S. goods in sectors like energy, aviation, and agriculture. Promoting investment cooperation and proposing the reduction of import barriers are among the proposals as well.
A key proposal that the Thai government believed to please the U.S. is the plan to purchase new aircraft for Thai Airways from The Boeing Company. The expected deal is anticipated to be worth no less than $10 billion.
Furthermore, the Thai negotiation team is likely to propose reducing import tariffs on several agricultural products. There is also a plan to invest in processed food production, such as canned seafood, within the U.S.
The government is also preparing additional measures, aiming to diversify risk for Thai businesses by expanding new export markets. Clear goals are set to expedite free trade agreements with Middle Eastern, European, and Indian countries to strengthen the Thai economy in the long run.
