Trump says wants to reduce U.S. trade deficit with Thailand

Reuters Staff

 

U.S. President Donald Trump greets Thai Prime Minister Prayut Chan-o-Cha and his wife Naraporn Chan-o-Cha at the White House in Washington, U.S., October 2, 2017. REUTERS/Joshua Roberts

 

WASHINGTON (Reuters) - President Donald Trump wants to reduce the U.S. trade deficit with Thailand, he told the country’s prime minister on Monday in a meeting that marked another sign of warming ties between Washington and Bangkok.

 

Trump, who has sought to improve U.S. trade ties with a variety of countries since taking office in January, put Thailand in the spotlight when he sat down with Thai Prime Minister Prayuth Chan-ocha in the Oval Office.

 

“Our relationship on trade is becoming more important and it’s a great country to trade with,” Trump told the Thai official before reporters. “I think we’re going to try to sell a little bit more to you, if that’s possible.”

 

The U.S. Trade Representative’s office reported that the U.S. trade deficit with Thailand was $18.9 billion last year, the 11th largest faced by the United States.

 

The meeting was a sign of improved ties between the United States and Thailand after the relationship cooled when the Thai military took power in a 2014 coup.

 

Human rights groups had strongly opposed the meeting, seeing it as a reward for an authoritarian leader who has cracked down on opposition and rolled back democratic freedoms.

 

The Obama administration was deeply critical of the military-led government and refused to extend an invitation to Prayuth to the White House.

 

Secretary of State Rex Tillerson visited Bangkok in August in what was the highest level visit to Thailand by a U.S. official since the military coup.

 

Prayuth and members of his cabinet will also meet with representatives of Thai businesses in the United States during the three-day visit.

 

Thailand is often cited as the oldest U.S. ally in Southeast Asia and Washington has been urging the region to do more to cut funding streams to North Korea over its nuclear program.

 

Reporting By Steve Holland and Yara Bayoumy; Editing by Chizu Nomiyama and David Gregorio

 

-- © Copyright Reuters 2017-10-03

All very nice and smiles all round  but this is hardly good news for Thailand, as we know Thailand has some pretty high tax tarrifs on foreign Imports plus other measures resulting in a deficit of a whopping  $18b, looks to me like Trump is wanting a change in US favour and rightly so

I hope this photo hasn't been Photoshoped !

I see no translator so I wonder whether they talked in Thinglish .

I hope Trump doesn't give them any credit.... 

Trump: "Welcome to America"

Mrs. Chan-o-Cha: "ugh"

PM Chan-o-Cha: :"Sawatdee khrab, Farang"

 

Trump: "You people don't eat pork, right ?"

Mrs: "Ugh Ugh"

PM: "Phom chop Jack Daniels, Khrab"

 

Trump: "Yeah, whatever, we have a beautiful bigly spread laid out, all the best stuff...oh yeah you are screwing us on trade"

Mrs: "ugh ugh ugh"

PM: "Phom chop Jack Daniels duay khrab"

 

 

2 hours ago, smedly said:

All very nice and smiles all round  but this is hardly good news for Thailand, as we know Thailand has some pretty high tax tarrifs on foreign Imports plus other measures resulting in a deficit of a whopping  $18b, looks to me like Trump is wanting a change in US favour and rightly so

The tariffs are ridiculous.  They stymie business for everyone in Thailand who is not well connected at the top.     

Prayut and Trump hold talks

By The Nation

 

 

Prime Minister General Prayut Chan-o-cha on Monday met US President Donald Trump in the White House’s Oval Office.

Prayut began by offering his condolences to Trump on the disasters caused by hurricanes hitting Texas and Puerto Rico towards which the Thai government and the private sector had sent humanitarian assistance. The PM said Thailand was ready to do more, according to the Thai Government House.

 

“The US president welcomed Prayut and his delegation while affirming development and continuation in trade relations, highlighting the wide potential of Thailand,” Government House said.

 

Prayut is leading a Thai delegation, mostly comprising economic officials, as part of a three-day visit to the US at the invitation of Trump.

 

The Thai government expects the visit to yield more opportunities for trade and investment under the Trump administration policy of benefit-based cooperation with foreign countries.

 

The US has been eager for dialogue with countries in East and Southeast Asia on rising regional tensions, particularly nuclear proliferation in the Korean peninsula.

 

Prayut is the third Asean member country leader to meet Trump after Vietnam’s Nguyen Xuan Phuc and Malaysian Prime Minister Najib Razak.

 

Trump is also scheduled to attend the Asean Summit next month.

 

Source: http://www.nationmultimedia.com/detail/politics/30328328

 

-- © Copyright The Nation 2017-10-03

 “I think we’re going to try to sell a little bit more to you, if that’s possible.”
 but we don't want your Pork

regards worgeordie

4 hours ago, smedly said:

All very nice and smiles all round  but this is hardly good news for Thailand, as we know Thailand has some pretty high tax tarrifs on foreign Imports plus other measures resulting in a deficit of a whopping  $18b, looks to me like Trump is wanting a change in US favour and rightly so

You mean one day Jack Daniels will be affordable?

Just now, Curmudgeon1 said:

You mean one day Jack Daniels will be affordable?

It is south of the boarder.  A little Jack with a little sweet vermouth,  such luxuries, made affordable, are only a dream in Thailand.  Never arrive in Thailand without a litre of something. 

 

You are right.  The crazy tariffs hurt everyone but the 1%.

5 minutes ago, yellowboat said:

It is south of the boarder.  A little Jack with a little sweet vermouth,  such luxuries, made affordable, are only a dream in Thailand.  Never arrive in Thailand without a litre of something. 

 

You are right.  The crazy tariffs hurt everyone but the 1%.

It is as if the taxes on alcohol are your problem, they are not mine.

All other import taxes, I agree, some are way above silly.

Protectionism, in fact, might not be a bad thing for any country.

I am, obviously, not a fan of unlimited WTO-style free trade, or even worse free trade agreements, where business in general goes before people.

That will go down well at home, reducing the the trade gap. Still not like he'll be challenged on it !

Hope DT is also looking to reduce the trade surplus with Australia? I am sure he is consistent????

15 minutes ago, Cats4ever said:

I am sure he is consistent????

If he is that consistent then China will be the number 1 on his list.....lets see how he goes with that task first.......

Perhaps Khun Prayuth might ask  Mr Trump to send us more quality-tourists, or to build a new high-speed railway-line, to speed-up US imports to Thailand ?

 

We already have KFC & McDonalds, Dunkin' Donuts & Krispy Kreme, but could use some well-stocked Wal-Mart superstores !

Reducing the trade surplus would be easy, just eliminate ridiculous import taxes.  Of course that means Thai industries would have to compete on price and quality (a devastating blow to the beer and liquor industries) and the lost tax revenues would have to be made up somehow--perhaps higher taxes on the small number of families that own most of the country?

 

On second thought, reducing the trade surplus would be impossible without upsetting the people the coup was staged to serve.

2 hours ago, hansnl said:

It is as if the taxes on alcohol are your problem, they are not mine.

All other import taxes, I agree, some are way above silly.

Protectionism, in fact, might not be a bad thing for any country.

I am, obviously, not a fan of unlimited WTO-style free trade, or even worse free trade agreements, where business in general goes before people.

Alcohol is just straw that breaks the camels back.  Try building something in Thailand.  My guys there found a part for 15 Baht.  In China, a similar part was less than a Baht.  Ran tests to be sure it was of similar quality.  That is the most glaring example.  There are many other examples of 50% savings.  Making high volume in Thailand does not make sense.  So if you build things for a living or like to have a fully stocked bar, Thailand can be a let down. 

Edited October 3, 20178 yr by yellowboat

Did a search on Google which surprised me as to mechanical and electronic exports. I assumed rice! Not even listed in the top 9.

 

The following export product groups represent the highest dollar value in Thai global shipments during 2016. Also shown is the percentage share each export category represents in terms of overall exports from Thailand.

1. Machinery including computers: US$37.2 billion (17.4% of total exports)
2. Electrical machinery, equipment: $29.7 billion (13.9%)
3. Vehicles : $27.2 billion (12.7%)
4. Gems, precious metals: $14.2 billion (6.6%)
5. Rubber, rubber articles: $12.2 billion (5.7%)
6. Plastics, plastic articles: $11.4 billion (5.3%)
7. Mineral fuels including oil: $6.3 billion (2.9%)
8. Meat/seafood preparations: $5.9 billion (2.8%)
9. Optical, technical, medical apparatus: $5.3 billion (2.5%)
10. Cereals: $4.6 billion (2.1%)

I'm impressed. No wonder Donald Trump wants to do a deal. Trump's main aim is to keep USA car manufacturers solvent. Also as far as Interpol alerts by the fact Trump meets him and recognises his legitimate existence to do deals  then that means all Interpol red/blue alerts should also be recognised legally and internationally. So where is Red Bull on Red alert and other misfits? Catch Boss and jail/gaol him. All good for Falang!