Thailand to submit formal trade proposal to U.S. this week, finance minister says

Yahoo

5 hours ago

BANGKOK (Reuters) -Thailand's formal trade proposal will be submitted to the United States this week, with the first round of discussions set to take place online, the country's finance minister said on Tuesday, as it seeks to head off the threat of U.S. tariffs.
Thailand faces a 36% U.S. tariff on its exports if a reduction can't be negotiated before a moratorium expires in July.
Formal trade negotiations with the United States will commence this week, starting with technical discussions at the official level, Pichai Chunhavajira told reporters.
"The latest formal proposal will be submitted following these discussions this week. After that, the first round of discussions with the U.S. will be conducted online," he said, without giving a date.
Any potential in-person meetings would be considered after the initial talks, Pichai said.
The formal proposal to be submitted would be under the main criteria previously announced, he added.
Last month, Pichai said the country had submitted a proposal to Washington that aims to address the trade imbalance, and includes measures to enhance market access for U.S. exports and tackle transshipment violations, as well as Thai investment that would create U.S. jobs.