Thailand-US trade talks next week amid tariff threats
BANGKOK: Thailand's finance minister will travel to the United States next week for trade talks, local media reported Friday, as the kingdom seeks to secure a deal with Washington over US President Donald Trump's threatened tariffs.
Thai exports face a 36 percent levy on key exports to America under the US president's raft of 'Liberation Day' measures if no agreement is reached to head them off before next month's deadline.
Finance Minister Pichai Chunhavajira told reporters he has scheduled talks with a US representative and plans to depart next week, according to local media outlet Thai News Agency MCOT.
His remarks followed online speculation that the tariffs would be cut to 18 percent after the talks, which he dismissed in a post on X.
'It's just a projection made by economists,' he told reporters at Government House, as quoted by local media.
In May, Pichai said the proposal aimed to reduce the trade imbalance and expand US export access to Thailand's market.
America's goods trade deficit with Thailand hit $45.6 billion in 2024, up 11.7 percent from the year before, according to US Trade Representative data.
The Thai government last month cut its 2025 economic growth forecast to 2.3-3.3 percent, from 3.2-4.2 percent, citing uncertainty over 'reciprocal tariffs'.
AFP has reached out to Pichai's party representative who was unable to confirm details of the trip.
Many Southeast Asian nations were threatened with the highest 'reciprocal' tariff rates: 49 percent on Cambodia's exports, 46 percent on Vietnam's and 44 percent on Myanmar's.
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