New tariff on Thai goods to take effect this Thursday
The 19% reciprocal tariff, to be imposed on Thai imports to the US market, will become effective on August 7th, when Thailand and the United States are scheduled to issue a joint statement.
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The 19% reciprocal tariff, to be imposed on Thai imports to the US market, will become effective on August 7th, when Thailand and the United States are scheduled to issue a joint statement.
The Thai-Cambodia tensions are severely affecting tourism in provinces bordering Cambodia, but other provinces in the north and the south are also being affected. Economists have predicted that the current situation will cost almost three billion baht per month.
The Thai National Shippers Council has adjusted its export growth projection for 2025 to 5-7%, from 1-3%, thanks to the 19% reciprocal tariff rate imposed on Thai imports to the US market, according to Thanakorn Kasetsuwan, the council’s chairman.
Vietnam outranked Thailand as the world’s second largest rice exporter during the first six months of this year, with India remaining top, according to the Thai Rice Exporters Association.
The United States has imposed a 19% tariff on imports from Thailand and Cambodia — down from the originally proposed 36% — following a ceasefire agreement between the two countries, reached under pressure from President Donald Trump.
People’s Party Deputy Leader Sirikanya Tansakul urged the government today to disclose the full details of the tariff deal with the United States, especially the US goods which will now be exempted from import taxation, which will impact Thai local producers.
Finance Minister Pichai Chunhavajira has welcomed the US administration’s decision to impose a 19% reciprocal tariff on imports of Thai goods into the US market, claiming that it reflects the close relationship between the two countries.
Finance Minister Pichai Chunhavajira said today he expects to be informed, within the next 24 hours, about the decision by the United States regarding the tariff rate to be imposed on Thai imports to the US market, whether it is 36%, as earlier announced, or lower.
The Commerce Ministry has announced that Thailand was the world top exporter of tapioca in 2024 and sets a target to champion the global largest exporter of the crop again in 2025.
The US President held a telephone conversation with acting Thai PM Phumtham Wechayachai after Thailand and Cambodia reached an unconditional ceasefire in their border conflict, saying that negotiations on US tariffs will start and be advantageous to Thailand.
Thailand must urgently reform its industrial and agricultural sectors, which could suffer major negative impacts if the market opens to US products as part of ongoing tariff negotiations, says a leading economist at the Thailand Development Research Institute (TDRI).
Vitai Ratanakorn, the incoming governor of the Bank of Thailand, by his own admission, will start his new job in October at a difficult time.