Thailand has developed a five-point proposal for submission to the US, when the two sides meet for tariff talks in Washington DC on a date yet to be set.
It is hoped that this positive overture will convince the US administration to reduce the 36% reciprocal tariff imposed on Thai products to about 10%.
Finance Minister Pichai Chunhavajira told a press conference at Government House today that the proposal had been adopted by the trade policy committee and approved by Prime Minister Paetongtarn Shinawatra.
He said the proposal covers:
• Cooperation between Thailand and US in becoming economic partners in the processing sector, data centres and AI and the reduction of tariff and non-tariff barriers.
• An increase in imports of US products, such as energy, agricultural products, aircraft and spare parts, as well as service equipment.
• The opening up of Thai markets to imported maize and fruit from the US.
• The strict enforcement of laws pertaining to misdeclaration of the origins of products.
• The promotion of Thai investments in the US.
Pichai disclosed that a Thai delegation, comprising executives from PTT and the Electricity Generating Authority of Thailand (EGAT), is currently in Alaska to explore greater cooperation in energy between the two countries.
He also said that Thai trade representative Nalinee Thavisin, and Pote Aramwattananont, chairman of the Thai Chamber of Commerce, are leading a Thai trade delegation to the Select USA Investment Summit 2025, to explore opportunities for increasing Thai investment in the US.
He claimed that US Finance Secretary, Scott Bessant, was positive towards Thailand’s five-point proposal when he mentioned Thailand at the Saudi Arabia Investment Forum on Tuesday, adding that he expects the proposal to be discussed at the working level between the two sides.
Regarding Thai investments in the US, Pichai said that Thailand has the capacity to invest in automotive production and services, adding that the country will explore the possibility of joint investment in the import sector.
Asked when the tariff talks would be held, Pichai said that, since Thailand is not in the Tier 1 group, it will have to wait until talks between the US and other larger trading partners have concluded.
