US and Thailand postpone tariff negotiations.

On April 22, the Bangkok Post quoted Prime Minister Paetongtarn Shinawatra as saying that Thailand's negotiations with the US on high trade tariffs had been postponed because Washington had asked Bangkok to reconsider key issues.

Thailand's rice exports fell 30% due to concerns over increased tariffs imposed by President Trump. (Photo: Thai Ministry of Commerce)

Ms. Paetongtarn Shinawatra stated that Thailand is one of the Southeast Asian countries most severely affected by President Donald Trump's measures, facing a 36% tariff if it cannot negotiate a reduction before the global moratorium expires in July.

Prime Minister Paetongtarn Shinawatra said, "We are reviewing issues, including tariffs, to make appropriate adjustments," adding that Thailand's agricultural exports and additional imports are under consideration. The US was Thailand's largest export market last year, accounting for 18.3% of total exports, equivalent to $54.96 billion. Washington has seen its trade deficit with Thailand rise to $45.6 billion.

"We are consulting with experts and all parties involved and doing our best in this situation. We are protecting agricultural interests to the highest degree possible," Prime Minister Paetongtarn Shinawatra stated, emphasizing that negotiations must be beneficial to both sides.

Thailand is one of the Southeast Asian countries facing the highest import tariffs after its trade surplus with the US doubled to around $46 billion last year, up from about $17 billion at the beginning of President Donald Trump's first term. According to the rice export association, Thailand's rice exports fell 30% in the first quarter and could be lower than the full-year forecast of 7.5 million tons due to tariffs.

Last year, Thailand exported 9.94 million tons of rice worth 225.65 billion baht, with the United States being the third largest market by volume.

According to the administration of Prime Minister Paetongtarn Shinawatra, higher-than-expected tariffs on exports to the U.S. – Thailand's largest export market – could reduce the country's growth by at least 1% this year if negotiations fail.

Thailand has offered to increase imports of US goods such as corn, natural gas, and ethane, in addition to reducing import tariffs and eliminating non-tariff barriers to secure an agreement. Bangkok also pledged to more strictly inspect goods shipped to Washington to prevent counterfeiting by third countries to avoid the high tariffs they face.

According to Bangkok Post

Source: https://hanoimoi.vn/my-thai-lan-hoan-dam-phan-thue-quan-699956.html