Latest news with #PortAuthorityofThailand
The Star
3 days ago
- Business
- The Star
Trump eyes 'world tariff' of 15-20% for most countries
A container is loaded onto a cargo ship while docked at a port under the Port Authority of Thailand, following the announcement that U.S. President Donald Trump would impose tariffs of 36% on goods from Thailand starting on August 1, in Bangkok, Thailand, July 8, 2025. REUTERS/Athit Perawongmetha/File Photo TURNBERRY, Scotland (Reuters) -President Donald Trump said on Monday most trading partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he imposed in April. Trump told reporters his administration will notify some 200 countries soon of their new "world tariff" rate. "I would say it'll be somewhere in the 15 to 20% range," Trump told reporters, sitting alongside British Prime Minister Keir Starmer at his luxury golf resort in Turnberry, Scotland. "Probably one of those two numbers." Trump, who has vowed to end decades of U.S. trade deficits by imposing tariffs on nearly all trading partners, has already announced higher rates of up to 50% on some countries, including Brazil, starting on Friday. The announcements have spurred feverish negotiations by a host of countries seeking lower tariff rates, including India, Pakistan, Canada, and Thailand, among others. The U.S. president on Sunday clinched a huge trade deal with the European Union that includes a 15% tariff on most EU goods, $600 billion of investments in the U.S. by European firms, and $750 billion in energy purchases over the next three years. That followed a $550-billion deal with Japan last week and smaller agreements with Britain, Indonesia, and Vietnam. Other talks are ongoing, including with India, but prospects have dimmed for many more agreements before Friday, Trump's deadline for deals before higher rates take effect. Trump has repeatedly said he favors straightforward tariff rates over complex negotiations. "We're going to be setting a tariff for essentially, the rest of the world," he said again on Monday. "And that's what they're going to pay if they want to do business in the United States. Because you can't sit down and make 200 deals." Canadian Prime Minister Mark Carney said on Monday trade talks with the U.S. were at an intense phase, conceding that his country was still hoping to walk away with a tariff rate below the 35% announced by Trump on some Canadian imports. Carney conceded this month that Canada - which sends 75% of its exports to the United States - would likely have to accept some tariffs. (Additional reporting by Andrew MacAskill in Turnberry, Andrea Shalal in Edinburgh and William James in LondonEditing by Rod Nickel)
Straits Times
3 days ago
- Business
- Straits Times
Trump eyes 'world tariff' of 15-20% for most countries
A container is loaded onto a cargo ship while docked at a port under the Port Authority of Thailand, following the announcement that U.S. President Donald Trump would impose tariffs of 36% on goods from Thailand starting on August 1, in Bangkok, Thailand, July 8, 2025. REUTERS/Athit Perawongmetha/File Photo TURNBERRY, Scotland - President Donald Trump said on Monday most trading partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he imposed in April. Trump told reporters his administration will notify some 200 countries soon of their new "world tariff" rate. "I would say it'll be somewhere in the 15 to 20% range," Trump told reporters, sitting alongside British Prime Minister Keir Starmer at his luxury golf resort in Turnberry, Scotland. "Probably one of those two numbers." Trump, who has vowed to end decades of U.S. trade deficits by imposing tariffs on nearly all trading partners, has already announced higher rates of up to 50% on some countries, including Brazil, starting on Friday. The announcements have spurred feverish negotiations by a host of countries seeking lower tariff rates, including India, Pakistan, Canada, and Thailand, among others. The U.S. president on Sunday clinched a huge trade deal with the European Union that includes a 15% tariff on most EU goods, $600 billion of investments in the U.S. by European firms, and $750 billion in energy purchases over the next three years. That followed a $550-billion deal with Japan last week and smaller agreements with Britain, Indonesia, and Vietnam. Other talks are ongoing, including with India, but prospects have dimmed for many more agreements before Friday, Trump's deadline for deals before higher rates take effect. Trump has repeatedly said he favors straightforward tariff rates over complex negotiations. "We're going to be setting a tariff for essentially, the rest of the world," he said again on Monday. "And that's what they're going to pay if they want to do business in the United States. Because you can't sit down and make 200 deals." Canadian Prime Minister Mark Carney said on Monday trade talks with the U.S. were at an intense phase, conceding that his country was still hoping to walk away with a tariff rate below the 35% announced by Trump on some Canadian imports. Carney conceded this month that Canada - which sends 75% of its exports to the United States - would likely have to accept some tariffs. REUTERS
Bangkok Post
01-07-2025
- Business
- Bangkok Post
Senate panel seeks premier's input on casino scheme
A Senate special committee studying an integrated entertainment complex, which includes a casino, plans to summon Prime Minister Paetongtarn Shinawatra for clarification on key policy questions. Dr Veerapun Suvannamai, senator and chairman of the committee, on Monday revealed that it is preparing to invite Ms Paetongtarn to attend a meeting on July 17. The aim is to allow the premier to provide information and share her views regarding the plan. However, Dr Veerapun acknowledged that the premier may not attend in person; therefore, the committee has prepared a set of key questions for her to respond in writing, which was sent along with the invitation. Dr Veerapun said that, based on previous meetings, representatives from the private sector provided information, including that there were five entertainment complexes planned by the government, in varying sizes. They also came up with revenue estimates and business operations, whereas the government representatives have never been able to provide similar clarification, he said, adding that he was unsure whether it was insider information that the private sector possessed or information obtained from the government itself. "The committee does not compel the premier to appear and has no intention of invoking legal powers to summon her," he said. "It is not a problem if the premier declines. What we expect is a response to the questions that are submitted alongside the invitation letter." He went on to say that the committee plans to present its preliminary findings at the Senate meeting on July 7. It would then wait for the premier's response before submitting the final report to the Senate by August. Questions for the PM reportedly include revenue estimates from the casino operations, the number of entertainment complexes planned, land expropriation from the Port Authority of Thailand in the Klong Toey area, and the number of Thai visitors and their spending requirements for the casinos to remain afloat. Other concerns are money laundering controls, economic risks, tourism impacts, investor influence and whether the bill should be renamed to clearly focus on the casino for transparency.
