logo
Thai-US tariff talks start on Thursday in Washington

Thai-US tariff talks start on Thursday in Washington

Bangkok Post21 hours ago

Finance Minister Pichai Chunhavajira will meet US Trade Representative Jamieson Greer on Thursday, beginning much-anticipated tariff negotiations between Thailand and the United States.
Government spokesman Jirayu Houngsub said on Monday the meeting in Washington DC was scheduled for 10am, or 9pm in Thailand.
It will be the first meeting between the two countries since US President Donald Trump imposed a 36% import tariff on Thai products. He allowed a 10% charge during the interim period, which expires on July 9.
The Thai delegation includes officials from the Foreign, Commerce and Finance ministries. They were to depart Thailand for Washington on Monday night.
They will have meetings with other US agencies and representatives of private firms during the visit, the spokesman said.
Prime Minister Paetongtarn Shinawatra had instructed the Thai negotiators to try to conclude the talks "at the appropriate time" to mitigate the impact on Thai exporters, he said.
Mr Pichai, who is also a deputy prime minister, said earlier he would travel to the US for trade talks, but did not provide details.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Saha Group Signs Global MOUs to Boost Economy
Saha Group Signs Global MOUs to Boost Economy

Bangkok Post

time40 minutes ago

  • Bangkok Post

Saha Group Signs Global MOUs to Boost Economy

Bangkok, July 1, 2025 – At the 29th Saha Group Fair & Fest, Saha Group—one of Thailand's leading economic drivers—announced a major commitment to national development by signing Memoranda of Understanding (MOUs) with a wide range of strategic partners. These agreements span key industries including real estate, technology, e-commerce, international investment, clean energy, aviation, retail, and education. The signing goes beyond strengthening Saha Group's own businesses; it opens new opportunities for Thai enterprises to enhance competitiveness, while promoting the transfer of knowledge, technology, and innovation in support of sustainable economic growth. Expanding Real Estate and Tourism Markets Saha Group added momentum to Thailand's property sector by announcing a landmark collaboration with Thai Obayashi, a company renowned for quality, safety, and world-class construction standards. Together, they will develop an ultra-luxury hotel in Bangkok's Ratchadamri area, managed by Japan's Seibu Prince Hotels Worldwide—a hospitality group with more than a century of history. This development will create a new cultural landmark, blending Thai and Japanese influences. The Group also partnered with Dusit Thani to develop Dusit Suites J-Park Sriracha, a project designed to elevate Sriracha as a premier destination for both business and leisure travellers. The property will integrate Japanese elements with Dusit Thani's global hospitality standards. Advancing Aviation and Clean Energy Industries In aviation, Saha Group has joined forces with Bangkokair Aviation Training Center to advance aviation training and align personnel development with international standards. Utilising private airfields and facilities within Saha Group's industrial parks, the collaboration includes curriculum development and management training to meet future industry needs. In clean energy, Ratch Pathana Energy has partnered with AGC Micro Glass (Thailand) to launch a clean energy power generation project within the Saha Group Industrial Park in Lamphun. This marks the first step towards the development of a green industrial park. Fostering International Cooperation Cross-border collaboration featured prominently in this year's MOUs. Saha Pathana Inter-Holding Public Company Limited (SPI), which manages investment and development across the Group, signed an agreement with Bank of China (Thai) Public Company Limited to promote Thai-Chinese investment and facilitate seamless cross-border financial transactions. Saha Group also partnered with DHL to enhance e-commerce capabilities and optimise supply chains for both domestic and international markets. In the field of influencer marketing, the Group formed a regional alliance with BIGXSHOW, Media Intelligence, Hakuhodo Thailand, LALA Station (Japan), and HUUM to expand its influencer marketing business and develop innovative business models throughout Asia. A highlight of the event was the Group's strategic partnership with Amazon Web Services (AWS), a global cloud computing leader. This collaboration will drive the integration of artificial intelligence (AI), machine learning, and data analytics across Saha Group's operations—accelerating digital transformation and boosting operational efficiency. Boosting Trade and Marketing Saha Group further demonstrated its commitment to building a comprehensive commercial ecosystem by partnering with the Gem and Jewelry Institute of Thailand on the Buy With Confidence initiative to strengthen the credibility of Thai gems and jewellery in global markets. In parallel, it expanded collaboration with the Thai Muslim Trade Association to promote halal products internationally. A partnership with Japan's Etoile Kaito will introduce Thailand's first Kamakura Neco salon, offering cat-themed lifestyle products rooted in Japanese culture. Meanwhile, a new agreement with Focus Media (Thailand) will expand public relations capacity and open additional international business opportunities. Strengthening Human Resources and Health In human capital development, Saha Group signed an MOU with Thammasat University to jointly produce skilled graduates, support personnel, and promote community and societal development through academic services. Another agreement with Sripatum University aims to nurture AI-proficient educators grounded in ethics and integrity, helping to position Thailand's education system for success in the digital age. In the area of public health, DONKI (Thailand), under Saha Group, has teamed up with Health Region 5, Office of the Permanent Secretary of the Ministry of Public Health, to promote and standardise local health products for the international market.

PrimeStreet focuses on megatrends
PrimeStreet focuses on megatrends

Bangkok Post

timean hour ago

  • Bangkok Post

PrimeStreet focuses on megatrends

As global markets teeter from geopolitical shocks, inflation and trade tensions, Thailand-based venture capital firm PrimeStreet Capital is focusing its investments on four global megatrends that hold ample future potential. While global investors grapple with persistent uncertainty, from US tariff hikes and geopolitical flashpoints to rising energy prices, PrimeStreet sees structural shifts that are too big to ignore, said Virit Vichitvadakan, co-founder and partner at PrimeStreet Capital. The fund's strategic focus is on four global megatrends that continue to reshape economies, consumer behaviour, and infrastructure worldwide. They are: healthcare and wellness; environment and infrastructure; impact technology; and food, water, and natural resources. "Crises often create the best entry points, but it's not just about buying cheap but rather about backing the right future. And megatrends are that future," Mr Virit said. In just two and a half years, the firm's Global Venture Capital fund has surged with seven times growth in net asset value and multiple on invested capital, delivering a 180% internal rate of return, well ahead of global venture benchmarks. Among the fund's standout investments is a biotech firm pioneering immune-based therapies for neurodegenerative diseases. The company is now in the final stage of US Food and Drug Administration approval for a new amyotrophic lateral sclerosis treatment, following promising results in clinical trials involving over 300 patients across the US, Europe, and Japan. The commercial potential is already attracting interest. Several Japanese pharmaceutical giants are reportedly in advanced talks to secure manufacturing and distribution rights, aiming to be first-to-market in Asia. For investors, the opportunity could unlock outsized returns in a sector traditionally known for decade-long timelines, noted Mr Virit. "We expect to begin returning capital to investors within 2-3 years and close the fund by year five or six. That is faster than most funds in this space and it aligns with our mission to deliver both financial and systemic returns," he noted. PrimeStreet's commitment is to bring global innovations home. The firm actively partners with Thai institutions and public health agencies to embed international breakthroughs into local development, helping to modernise healthcare and infrastructure in the region, Mr Virit added.

Factbox: Where trade talks stand with major US partners ahead of tariffs-hike deadline
Factbox: Where trade talks stand with major US partners ahead of tariffs-hike deadline

Bangkok Post

time3 hours ago

  • Bangkok Post

Factbox: Where trade talks stand with major US partners ahead of tariffs-hike deadline

Negotiators from more than a dozen major US trading partners are rushing to reach agreements with US President Donald Trump's administration by a July 9 deadline to avoid import tariffs jumping to higher levels, and Trump and his team kept up the pressure on Monday. With only a limited deal with Britain completed so far, Trump has repeatedly threatened just to send a series of letters to trading partners identifying what their new tariff rate will be after the deadline, and Treasury Secretary Scott Bessent said the risk of tariffs going up next week is real. "We have countries that are negotiating in good faith, but they should be aware that if we can't get across the line because they are being recalcitrant, then we could spring back to the April 2 levels," Bessent said on Bloomberg Television on Monday. "I hope that won't have to happen." Just over a week remains before tariffs ranging from 10% to 50% on goods from many other countries could be imposed if those countries fail to agree on bilateral trade deals in time. Trump on April 9 put a 90-day pause on the stiff levies he had announced the previous week that sent global financial markets into a tailspin. Stocks have rallied back to record highs since then on optimism that deals will be completed on time, or the deadline perhaps extended again. Here is where some of the key negotiations stand for several US trading partners: Thailand With the threat of Americans having to pay 36% tariffs to import Thai goods, Thailand has projected optimism about its talks with the US, its largest export market. Thailand's proposals have included reducing its own tariffs, purchasing more American goods and increasing investments. European Union The European Union Trade Commissioner Maros Sefcovic is flying to Washington on Tuesday to meet with his US counterparts, and has welcomed draft proposals from the US. Progress has been opaque, but the 27-member EU has said its regulations on social media and other technology companies, much stricter than those in the US, are not up for negotiation. The EU, meanwhile, is open to a US deal that would apply a universal 10% tariff on many of its exports, but the bloc is seeking US commitments to reduce tariffs in key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft, Bloomberg reported. The EU is also pushing the US to implement quotas and exemptions to effectively ease Washington's 25% tariff on automobiles and auto parts, as well as its 50% tariff on steel and aluminum, the report said, citing people familiar with the matter. Japan Japan says it is working to reach an agreement with the US while defending its national interest. Trump, meanwhile, continues to accuse Japan of "unfair" automobile trade with the US, making it unclear how American importers of Japanese cars might avoid tariffs of 25%. Trump has also suggested Japan should import more US oil, among other goods. On Monday, Trump said Japan could be among those he sends a letter to identifying its tariff rate after he complained about import restrictions it imposes on America-grown rice. "I have great respect for Japan, they won't take our RICE, and yet they have a massive rice shortage," he said in a Truth Social post. "We'll just be sending them a letter, and we love having them as a Trading Partner for many years to come." India Early optimism has faded, with India-US talks stalling on disagreements over US tariffs on auto components, steel and agricultural goods. Indian trade officials in Washington have said they are willing to extend their stay, with the main sticking point being on whether India is willing to ease trade protections on dairy, almonds, pistachios, walnuts, soybeans and its other agricultural products and whether the US will ease tariffs on imports of Indian steel and car parts. Indonesia Accused by some other countries of excessive red tape, Indonesia eased import licensing requirements for some goods and waived import restrictions on plastics, chemical products and other industrial raw materials on Monday, seen as a gesture of goodwill towards Trump's July 9 deadline for trade talks. Indonesia has also invited the US to jointly invest in a state-owned Indonesian minerals project as part of its tariff negotiations. South Korea Despite frequent rounds of talks and some preliminary agreements, South Korea said it would seek an extension on Trump's July 9 deadline. South Korea already imposes virtually zero tariffs on US imported goods under a free-trade agreement, and so the US has focused on other issues, including foreign exchange rates and defense costs, with Trump often complaining about the cost-sharing arrangement for the 28,500 US troops stationed in South Korea. Britain Britain has raced ahead of other countries: as of Monday, tariffs on US imports of British cars are down to 10%, down from an earlier 27.5%, and removed entirely for aircraft engines and other aerospace goods. The two countries are still negotiating tariffs on British steel and aluminum, with Britain seeking to avoid the 50% tariffs the US has imposed on importing these goods from many other countries. China US-China talks are on a different track, with a deadline for completing a wider agreement set for August. Talks between the two have faltered on the selling of rare earth minerals and magnets to the US, with China suspending those exports in response to Trump's tariffs announcement in April, upending global supply chains. In late June, the US said it had reached an agreement with China to resume those exports while the two economic superpowers continue to negotiate a broader trade deal.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store