Thailand yet to reach tariff deal with US: official
In the absence of a deal, Washington could impose a 36% tariff on all imports from Thailand as soon as July 9, compared with the 10% baseline tariff in effect now.
A cargo port in Bangkok, Thailand, on April 3, 2025. (Photo: Reuters/VNA)
Bangkok (VNA) – Thailand has yet to conclude negotiations with the US on reciprocal tariffs but has gained “valuable insights” that will guide the development of a revised proposal, Thai Deputy Prime Minister Pichai Chunhavajira said on July 4.
Speaking during a live broadcast on X while transiting through the Republic Korea on his way back to Thailand, Pichai said that initial trade talks had made encouraging progress, despite no final agreement being reached, Bangkok Post reported.
He gave no indication about when further talks might take place, even as a July 9 deadline looms to reach a deal. In the absence of a deal, Washington could impose a 36% tariff on all imports from Thailand as soon as July 9, compared with the 10% baseline tariff in effect now.
US President Donald Trump has conceded that negotiating trade deals with dozens of countries has proved impractical. As a result, Washington plans to unilaterally decide final tariff rates and send out letters to many trade partners, Pichai noted.
Pichai, who led the Thai delegation in Washington, said he held high-level discussions with senior US government officials and representatives from major American corporations with significant long-term investments in Thailand. He also held formal policy talks with US Trade Representative Jamieson Greer and Michael Faulkender, the deputy secretary of the Treasury.
He said they received significant feedback that reaffirmed the US’ confidence in Thailand as a long-standing economic partner, which lays a solid foundation for further negotiations.
The discussions helped Thai officials better understand US expectations, the Deputy PM went on, adding that these insights would shape a new proposal addressing concerns from both sides.
ꦛ The official affirmed Thailand’s firm position that the final deal must be practical, sustainable, and a win-win for both sides. “We have to work hard to refine Thailand’s proposal to ensure the success of the negotiation and benefits of the two sides.”/.
From January to May 2025, the EU was Thailand’s fourth-largest trading partner after China, the US, and Japan. Total trade between the two sides stood at 18.09 billion USD, up 0.57% from the same period in 2024.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
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