Report Thailand Races Against Time to Secure Trade Deal with US

[snoop1130]

Photo of Pichai Chunhavajira courtesy of Money and Banking

 

Thailand is facing a critical deadline as it races to negotiate a trade deal with the United States, with significant economic implications at stake. Finance Minister Pichai Chunhavajira announced today that he will travel to the US next week for urgent negotiations.

 

Without a new agreement, Thailand faces a daunting 36% tariff on its exports when the current moratorium expires in July. This marks a substantial increase from the 10% tariff currently enjoyed by most nations under the moratorium, posing a serious threat to Thailand’s economy, where exports are a vital growth factor.

 

While details of the negotiations are not fully disclosed, Commerce Minister Pichai Naripthaphan had earlier expressed hope that a new deal could reduce the tariff to as low as 10%. Thailand is keen to negotiate terms that might extend beyond just the current pause in tariffs.

 

Dismissing rumours of an 18% potential rate, Minister Pichai clarified that the figure was merely an estimate by the Bank of Thailand, not an official proposal. He assured that Thailand has put forth an official reduction proposal, and optimism remains for a favourable outcome.

 

Permanent Secretary for Commerce Vuttikrai Leewiraphan echoed this sentiment, highlighting the strength of Thailand’s negotiation stance to potentially lower tariffs to the desired 10%.

 

This comes after the US finalised a trade understanding with China, with intentions to strike deals with 10 major trading partners shortly. As Thailand prepares for these crucial discussions, the focus is on safeguarding its economy and sustaining its export sector, which is under unprecedented pressure.

 

  Adapted by ASEAN Now from The Thaiger 2025-06-27

 

 

[angryguy]

2 minutes ago, snoop1130 said:

Finance Minister Pichai Chunhavajira announced today that he will travel to the US next week for urgent negotiations

Dont know who he is but i have zero confidence in him

[ikke1959]

indeed he has to hurry.... in a few days it is already 1st of July...Thailand always do things at the very last moment... another example in the past 90 days he did not had the time as other countries did??