Meeting on the impact of US tariff imposed on Thailand

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  • Meeting on the impact of US tariff imposed on Thailand

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.

A negotiating team, led by Deputy Prime Minister and Finance Minister Pichai Chunhavajira, held a meeting with representatives of the industrial sector, 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 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.

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.

mitv