Thailand Strengthens Economic Ties with the United States Amid Tariff Challenges
Prime Minister Paetongtarn Shinawatra emphasizes Thailand's role as a reliable partner beyond exports during upcoming trade discussions.
Thai Prime Minister Paetongtarn Shinawatra announced on Sunday that Finance Minister Pichai Chunhavajira will be leading a delegation to the United States this week to address trade issues and emphasize Thailand's position as a dependable ally rather than solely an exporter.
Prime Minister Shinawatra highlighted the challenges posed by a 36% tariff on Thai exports to the US, noting that several countries are similarly affected and are preparing to respond with their own measures.
During her address, Ms. Shinawatra remarked on the potential for significant global trade retaliations, stating that many nations are seeking dialogue with the US government but often without achieving conclusive outcomes.
She pointed out that these tariffs impact key sectors of the Thai economy, particularly electronics, processed foods, and agricultural products.
In response to these trade challenges, the Thai government has established a working group tasked with formulating strategies and proposals in conjunction with private sector stakeholders and US representatives.
The prime minister indicated that Minister Chunhavajira's trip would involve discussions with various parties, including government and private sector representatives in the US.
The government aims to convey to US officials that Thailand is not merely an exporter but a long-term economic partner.
Among the proposed policies are suggestions to increase imports from the US in critical areas such as energy, aircraft, and agricultural sectors.
Furthermore, the Thai government plans to enhance cooperation in agricultural and industrial fields with the US. Ms. Shinawatra expressed intentions to secure promotional privileges for Thai investors while advocating for reduced barriers on Thai exports.
Additionally, the government seeks to address issues related to goods falsely labeled as originating from Thailand.
The prime minister expressed confidence that the US would consider Thailand’s proposals favorably, reinforcing the two countries’ status as allies and trade partners.
She underscored the Thai government’s commitment to safeguarding national interests, particularly for small and medium-sized enterprises as well as larger industrial entities, amidst the challenges posed by the recent tariffs.
Ms. Shinawatra announced plans to meet with relevant stakeholders on Tuesday to strategize on protective measures for the national economy.
Prime Minister Shinawatra highlighted the challenges posed by a 36% tariff on Thai exports to the US, noting that several countries are similarly affected and are preparing to respond with their own measures.
During her address, Ms. Shinawatra remarked on the potential for significant global trade retaliations, stating that many nations are seeking dialogue with the US government but often without achieving conclusive outcomes.
She pointed out that these tariffs impact key sectors of the Thai economy, particularly electronics, processed foods, and agricultural products.
In response to these trade challenges, the Thai government has established a working group tasked with formulating strategies and proposals in conjunction with private sector stakeholders and US representatives.
The prime minister indicated that Minister Chunhavajira's trip would involve discussions with various parties, including government and private sector representatives in the US.
The government aims to convey to US officials that Thailand is not merely an exporter but a long-term economic partner.
Among the proposed policies are suggestions to increase imports from the US in critical areas such as energy, aircraft, and agricultural sectors.
Furthermore, the Thai government plans to enhance cooperation in agricultural and industrial fields with the US. Ms. Shinawatra expressed intentions to secure promotional privileges for Thai investors while advocating for reduced barriers on Thai exports.
Additionally, the government seeks to address issues related to goods falsely labeled as originating from Thailand.
The prime minister expressed confidence that the US would consider Thailand’s proposals favorably, reinforcing the two countries’ status as allies and trade partners.
She underscored the Thai government’s commitment to safeguarding national interests, particularly for small and medium-sized enterprises as well as larger industrial entities, amidst the challenges posed by the recent tariffs.
Ms. Shinawatra announced plans to meet with relevant stakeholders on Tuesday to strategize on protective measures for the national economy.
