Finance Minister Pichai Chunhavajira has admitted that he invited former prime minister Thaksin Shinawatra to a meeting of the economic “Team Thailand” today, for a discussion about the US tariffs, because Thaksin is well versed on the issue and could provide some valuable feedback.
Thailand has until August 1 to submit its revised trade proposal to the US for reconsideration, in an effort to avoid the 36% tariff, which the US administration intends to impose on imported Thai goods.
Pichai said he believes a broad resolution could be worked out with the US before the deadline, adding that more talks are expected later on.
Pichai’s negotiating team held a meeting with representatives of the industrial sector yesterday, to discuss the impacts of a high US tariffs and remedial measures needed to address them.
A second meeting with the private sector is scheduled for Monday, to fine-tune the revised proposal before it is resubmitted to the US, said the finance minister, adding that his team is ready to return to Washington DC if necessary.
He also said he expects that the tariff will not be much higher than that imposed on other countries in the region, which, if it were, would make Thai products uncompetitive in the US market.
Thaksin's attendance at the today meeting surprised many who questioned in what capacity he was there.
Thaksin was seen arriving at the Ban Phisanulok residence meeting venue at about 7.50am. Others seen arriving included Pansak Vinyaratn, chief policy adviser to the prime minister, Jakrapob Penkair, as well as Commerce Minister Jatuporn Buruspat and Pichai.
Thaksin said on Tuesday that negotiations with the US over the tariff are ongoing and that Thailand still has time to reach a fair deal.
Speaking during a talk, hosted by the Nation Group titled “Breaking Thailand’s Deadlock”, Thaksin urged the public and policymakers not to panic, stressing that the process is not yet concluded.
“Negotiations are not over. We still have time,” Thaksin said, adding “I believe we can close the deal. We need to understand that Donald Trump is a businessman. His approach is one of high-stakes bargaining. When the letter, rejecting our initial proposal, arrived from the White House, we revised and resubmitted it. Now, we must follow due process.”
Thaksin, who was sentenced to prison term on corruption convictions, also revealed that he had ordered the urgent meeting this morning.
Thaksin is generally regarded as the de facto leader of the Thai government. His youngest daughter, Paetongtarn, was the prime minister, prior to her suspension by the Constitutional Court, and is head of the ruling Pheu Thai party. Thaksin returned to
Thailand last year after nearly two decades in self-imposed exile.
During his talk, Thaksin emphasised the importance of protecting Thailand’s interests in trade negotiations.
