Thaksin Joins Thai Ministers in Fine-tuning Response to Trump Tariff Threat
Thaksin, father of suspended Prime Minister Paetongtarn Shinawatra, participated in a high-level meeting in Bangkok on Friday that included senior economic advisers and the ministers of finance and commerce. The agenda included finalizing additional concessions to offer Washington in a bid to reduce the proposed tariff and formulating measures to shield domestic industries and farmers from the potential economic impact, according to local media reports.
Finance Minister Pichai Chunhavajira, who heads the task force negotiating with the US, said after the meeting the government plans to make slight adjustments to its proposal framework in hopes of securing a more 'competitive' tariff rate compared to neighboring nations. Pichai said he's ready to travel to the US for talks if needed.
Read: Humbled Thai Billionaire Is a Warning to Trump-Era Populists
Thai officials remain optimistic about reaching a deal before the Aug. 31 deadline set by Trump. Their current offer includes eliminating import taxes on 90% of US goods and removing various non-tariff barriers. Thailand has also pledged to increase bilateral trade and slash its $46 billion trade surplus with the US by 70% within five years.
Thaksin's direct involvement underscores the seriousness with which the Pheu Thai Party-led government is approaching the tariff challenge, particularly its potential effects on small businesses and farmers. Following Paetongtarn's suspension last month over an alleged ethics violation, Deputy Prime Minister Phumtham Wechayachai has taken over the leadership of the administration.
Since returning to Thailand in 2023 after 15 years in self-imposed exile, Thaksin has remained a dominant figure in Thai politics. He has frequently voiced his views on economic strategy and has promoted policies that have since been adopted by the government.
Read: Thaksin Confident Thai Court Will Clear Premier in Ethics Case
In an interview with Nation TV on Wednesday, Thaksin said Thailand could still secure a better deal from the Trump administration if it negotiates wisely. He warned that the country must also have an 'exit strategy' and be cautious of any US demands involving China in exchange for tariff relief.
'If we rush and give-in to everything — essentially stripping ourselves naked — we'd just get exploited,' the billionaire politician said. 'If granting them everything brings war to our soil, then no — we won't do it.'
The US was Thailand's largest export market in 2024, accounting for about 18% of total shipments. Thai exports have risen approximately 15% in the first five months of this year, fueled by accelerated ordering in anticipation of the proposed tariff.
This article was generated from an automated news agency feed without modifications to text.
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