Thailand to begin trade negotiations with US this week
America's goods trade deficit with Thailand hit US$45.6 billion in 2024. (EPA Images pic)
BANGKOK : Thailand will submit a formal trade proposal to the US this week, the kingdom's finance minister said today, as it seeks to avoid Donald Trump's threatened tariffs.
Thailand faces a 36% levy on key exports to America under the US president's 'Liberation Day' measures and remains one of the few Southeast Asian nations without a bilateral deal with Washington.
After today's cabinet meeting, finance minister Pichai Chunhavajira told reporters, 'We will submit the details by this week'.
He added that the first round will be held virtually, followed by face-to-face meetings.
Thailand's finance ministry said in May that the proposal aimed to reduce the trade imbalance and improve access for US exports to the Thai market.
America's goods trade deficit with Thailand hit US$45.6 billion in 2024, up 11.7% from the year before, according to the data from the US trade representative.
The Thai government last month cut its 2025 economic growth forecast to 2.3%-3.3%, from 3.2%-4.2%, citing uncertainty over 'reciprocal tariffs'.
In April, authorities arrested American scholar Paul Chambers for alleged royal defamation, prompting speculation that politics had delayed talks, though the case was later dropped.
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