Thai commerce minister: Thailand to have trade talks with US

Thai commerce minister: Thailand to have trade talks with US

Thailand is set to engage in high-level trade negotiations with the United States, as both nations prepare to discuss the US's tariff regime. Commerce Minister Pichai Naripthaphan has confirmed that Thailand and the US are ready to open technical-level talks, with the Thai cabinet approving a negotiation framework last week [1].

The move comes after the US expressed its willingness to hold such discussions, a shift from earlier criticism of Thailand's slow response to the tariff threat. The Thai government has assembled a technical negotiation team to engage with Washington over punitive tariffs, with just weeks remaining before a 36% levy threatens to devastate the kingdom's largest export market [2].

The talks will center around Thailand's five-point proposal aimed at reducing its trade surplus with the US by 50% within five years. Key negotiation points include increasing imports of American energy products, reducing import duties on thousands of items, and addressing concerns over product misrepresentation [2].

The negotiations are expected to take place virtually due to time constraints and the approaching deadline. Thailand's economic future hangs in the balance as it seeks to maintain access to its most lucrative overseas market, with the US remaining Thailand's primary export destination [2].

The trade war triggered by US tariff policies is expected to persist, causing businesses to adopt a "wait and see" approach. US Treasury Secretary Scott Bessent indicated that the Trump administration is open to extending the current 90-day tariff pause beyond July 9 for key trading partners who engage in "good faith" negotiations [4].

The stakes are considerable for Thailand's export-dependent economy. Bilateral trade reached $74.5 billion in 2024, with Thailand exporting $55.0 billion whilst importing just $19.5 billion. The 36% retaliatory tariff places Thailand 20th among 185 global trading partners and ninth in Asia [2].

Both sides are now racing to conclude negotiations before the deadline, with Thailand's economic future hanging in the balance as it seeks to maintain access to its most lucrative overseas market [2].

References:
[1] https://www.bangkokpost.com/business/general/3050220/thais-us-ready-for-tariff-talks
[2] https://www.nationthailand.com/business/economy/40051026
[4] https://www.nationthailand.com/business/economy/40051191