Thailand, which is seeking a reprieve from the Trump administration’s plan to levy a 36 per cent tariff on its goods, has said ministerial level talks previously scheduled for this week have been delayed.
Advertisement
The schedule for talks has been adjusted, and Deputy Prime Minister and Finance Minister Pichai Chunhavajira, Thailand’s lead negotiator, will give more details on Tuesday, according to government spokesman Jirayu Houngsub. He did not give any reasons for rescheduling the talks originally set for Wednesday.
Pichai also did not travel to Seattle last week to meet with American businessmen as previously announced. Commerce Minister Pichai Naripthaphan, who is also part of the negotiation team, said the government was hopeful of a “good outcome” whenever the negotiations were held as the two countries have a “good and long-standing” bilateral relations.
Thailand is among the Southeast Asian countries facing the highest import levy rates after its trade surplus with the United States more than doubled to about US$46 billion last year, from about US$17 billion at the beginning of Donald Trump’s first term.
Prime Minister Paetongtarn Shinawatra’s administration has said the higher-than-expected levy on its shipments to the US – Thailand’s largest export market – could shave off at least one percentage point of its growth this year if it is not negotiated down.
Thailand has offered to step up imports of US commodities such as corn, natural gas and ethane, besides reducing import duties and removing non-tariff barriers to secure a deal.
Advertisement
It has also pledged stricter inspection of goods shipped to the US to prevent counterfeiting by third countries to dodge the high tariffs facing them.