Thailand to hold trade talks with US next week
The finance minister will travel to the United States next week for trade talks, local media reported, as the kingdom seeks to secure a deal with Washington over US President Donald Trump's threatened tariffs.
Thai exports face a 36% 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 that 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% 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 US$45.6bil in 2024, up 11.7% 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%, from 3.2-4.2%, citing uncertainty over 'reciprocal tariffs'.
Many South-East Asian nations were threatened with the highest 'reciprocal' tariff rates: 49% on Cambodia's exports, 46% on Vietnam's and 44% on Myanmar's. — AFP
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