Thailand sees US offering ‘very good' trade deal after ceasefire
BANGKOK - Thailand expects the Trump administration to offer it a 'very good' trade deal after
agreeing to end an armed border conflict with Cambodia under a US-backed peace initiative, its Acting Prime Minister Phumtham Wechayachai said.
Mr Phumtham spoke to President Donald Trump hours after Thailand and Cambodia jointly announced an 'immediate and unconditional' ceasefire. The US president lauded Thailand for agreeing to end the five-day old conflict, Mr Phumtham told reporters late on July 28.
The truce was reached after Mr Trump threatened to block trade deals with both the South-east Asian countries unless the violence stopped. Mr Phumtham and Cambodian Prime Minister Hun Manet met for talks hosted by Malaysian Prime Minister Anwar Ibrahim in his capacity as the chair of the Association of South-east Asian Nations.
Mr Trump told Mr Phumtham that 'there will be tariff negotiations, which will be beneficial and we will get something very good out of it. He will do his best to give us as much as he can', the Thai leader said.
On his part, Mr Trump posted on Truth Social that 'I have instructed my Trade Team to restart negotiations on Trade'.
With the Aug 1 tariff deadline nearing, export-reliant Thailand appeared eager to avoid provoking the US president as it worked to reduce a planned 36 per cent levy on its exports. Mr Trump has credited his use of trade pressure with helping stop border clashes between India and Pakistan earlier this year – a claim welcomed by Pakistan but consistently denied by India.
Thailand's trade talks with the US have included offering expanded access for American goods to narrow a US$46 billion (S$59 billion) trade surplus. Neighboring Indonesia, the Philippines, and Vietnam have already secured trade deals with the US in recent weeks.
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Mr Phumtham said though border fighting continued ahead of the midnight ceasefire, it will end very well as the international community supports the truce. The Malaysia talks didn't cover disputed maps and border checkpoint measures.
The Thai-Cambodia conflict traces its roots to long-standing disputes stemming from colonial-era maps and treaties that defined the two countries' boundaries. Relations had remained relatively stable since a 2011 clash that left dozens dead, but renewed tensions have triggered fears of escalated fighting. BLOOMBERG
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