US - Thailand postpone tariff negotiations

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

Thailand's rice exports fall 30% amid concerns over Trump's tariffs. Photo: Thai Ministry of Commerce

Thailand is one of the Southeast Asian countries hardest hit by President Donald Trump's measures, facing a 36% tariff if it cannot negotiate a reduction before the global moratorium expires in July, Paetongtarn Shinawatra said.

"We are looking at issues including tariffs so that we can make appropriate adjustments," Prime Minister Paetongtarn Shinawatra said, adding that Thailand's agricultural exports and additional imports were being considered. The United States was Thailand's largest export market last year, accounting for 18.3 percent of total exports, or $54.96 billion. Washington has pushed its deficit with Thailand to $45.6 billion."

"We are consulting with experts and all parties and trying our best in this situation. We are protecting agricultural interests to the highest extent possible," Prime Minister Paetongtarn Shinawatra said, adding that the negotiations must benefit both sides.

Thailand is among the Southeast Asian countries facing the highest import tariffs after its trade surplus with the United States doubled to about $46 billion last year, from about $17 billion at the start of President Donald Trump’s first term. Thai rice exports fell 30% in the first quarter and could fall short of its full-year forecast of 7.5 million tons due to the tariffs, according to the rice exporters association.

Last year, Thailand exported 9.94 million tonnes of rice worth 225.65 billion baht, with the US being the third-largest market by volume.

Higher-than-expected tariffs on shipments to the United States - Thailand's biggest export market - could shave at least 1 percentage point off the country's growth this year if talks fail, according to Prime Minister Paetongtarn Shinawatra's administration.

Thailand has offered to increase imports of U.S. goods such as corn, natural gas and ethane, in addition to lowering import tariffs and eliminating non-tariff barriers to secure a deal. Bangkok has also pledged to more closely inspect goods shipped to Washington to prevent counterfeiting by third countries to evade the high tariffs they face.

According to Bangkok Post

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