Thai Finance Minister Refutes US Tariff Rumors and Prepares New Proposal
Pichai Chunhavajira asserts no imminent tariffs on Thai goods while submitting a revised trade proposal to the US ahead of upcoming negotiations.
Pichai Chunhavajira, Thailand’s Deputy Prime Minister and Finance Minister, has publicly dismissed rumors suggesting that the United States intends to impose tariffs ranging from 18% to 36% on Thai goods.
Speaking after a meeting with the US trade policy working group, Pichai stated, "I CAN CONFIRM THAT THE NEWS CIRCULATING ABOUT THAILAND BEING SUBJECT TO TARIFF RATES OF 18-36% IS UNTRUE." His comments came as a part of the preparations to submit a revised proposal to the US by the impending 9 July deadline.
Pichai clarified that 'Team Thailand' has yet to finalize any specific tariff rates that the US may implement.
The official announcement regarding any tariff decisions will be made by US authorities, and Pichai urged stakeholders to await these formal results rather than speculation.
During the discussions, he acknowledged requests for transparency but asserted that the negotiations, involving both Thai and US representatives, are confidential in accordance with standard negotiation protocols.
He emphasized the importance of focusing on several ongoing negotiation points, reaffirming that 'Team Thailand' is committed to prioritizing the national interest.
The aim, according to Pichai, is to achieve a "WIN-WIN AND SUSTAINABLE" outcome that maintains Thailand’s economic competitiveness in the global market.
"I BELIEVE THAT THE US COMING TO SPEAK WITH 'TEAM THAILAND' IS A POSITIVE SIGNAL," Pichai noted.
He conveyed that the US remains receptive to finding common ground beneficial to both nations.
Following extensive consultations with various Thai ministries—including Commerce, Finance, Industry, Foreign Affairs, Agriculture, Public Health, and the Board of Investment—'Team Thailand' is set to present its updated proposal to the US before the 9 July deadline.
"WE HOPE THE US WILL CONSIDER THIS IN DETERMINING A TARIFF RATE THAT IS BENEFICIAL TO THAILAND," he added.
Looking beyond the imminent deadline, Pichai expressed optimism that discussions will persist, ultimately leading to a comprehensive agreement.
He acknowledged the necessity for numerous countries to engage in their internal approval mechanisms post-negotiation.
To ensure continued competitiveness, Pichai articulated a desire for the lowest possible tariff rate during negotiations, aiming for favorable conditions for Thailand until the discussions are fully resolved.
Speaking after a meeting with the US trade policy working group, Pichai stated, "I CAN CONFIRM THAT THE NEWS CIRCULATING ABOUT THAILAND BEING SUBJECT TO TARIFF RATES OF 18-36% IS UNTRUE." His comments came as a part of the preparations to submit a revised proposal to the US by the impending 9 July deadline.
Pichai clarified that 'Team Thailand' has yet to finalize any specific tariff rates that the US may implement.
The official announcement regarding any tariff decisions will be made by US authorities, and Pichai urged stakeholders to await these formal results rather than speculation.
During the discussions, he acknowledged requests for transparency but asserted that the negotiations, involving both Thai and US representatives, are confidential in accordance with standard negotiation protocols.
He emphasized the importance of focusing on several ongoing negotiation points, reaffirming that 'Team Thailand' is committed to prioritizing the national interest.
The aim, according to Pichai, is to achieve a "WIN-WIN AND SUSTAINABLE" outcome that maintains Thailand’s economic competitiveness in the global market.
"I BELIEVE THAT THE US COMING TO SPEAK WITH 'TEAM THAILAND' IS A POSITIVE SIGNAL," Pichai noted.
He conveyed that the US remains receptive to finding common ground beneficial to both nations.
Following extensive consultations with various Thai ministries—including Commerce, Finance, Industry, Foreign Affairs, Agriculture, Public Health, and the Board of Investment—'Team Thailand' is set to present its updated proposal to the US before the 9 July deadline.
"WE HOPE THE US WILL CONSIDER THIS IN DETERMINING A TARIFF RATE THAT IS BENEFICIAL TO THAILAND," he added.
Looking beyond the imminent deadline, Pichai expressed optimism that discussions will persist, ultimately leading to a comprehensive agreement.
He acknowledged the necessity for numerous countries to engage in their internal approval mechanisms post-negotiation.
To ensure continued competitiveness, Pichai articulated a desire for the lowest possible tariff rate during negotiations, aiming for favorable conditions for Thailand until the discussions are fully resolved.
