Thailand is poised to submit a formal trade proposal to the United States this week, aiming to avert the imposition of a 36% tariff on its exports. The proposal submission comes after technical discussions, as reported by Reuters. According to Thailand’s Finance Minister, Pichai Chunhavajira, the first round of discussions will be conducted online, with potential in-person meetings to follow.
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The trade negotiations are critical, given the looming expiration of a moratorium in July, which could trigger the hefty tariffs if no agreement is reached. Thailand’s strategy includes addressing the trade imbalance and enhancing market access for U.S. exports, alongside measures to prevent transshipment violations. Additionally, the proposal highlights Thai investment initiatives designed to generate jobs in the United States.
According to data from the IndexBox platform, the U.S. is a significant market for Thai exports, with the potential tariffs posing a substantial risk to trade volumes. The ongoing discussions underscore Thailand’s efforts to secure more favorable trade terms and sustain its economic ties with the U.S.
