Considering this is more about trade deficit than tariffs, it's a possibility.
Reducing the importance duty on certain products would make more sense.
Food and drink. Western food, lower the duty on that, most Thai don't eat it anyhow, so no competition there.
Wine and spirits is an obvious one, Thailand doesn't make anything that compares with the west so wouldn't lose too much.
Thais will still buy Hong Thong etc because of the price.