Thailand Seeks US Tariff Deal Before July 9 Deadline

Thailand is actively negotiating with the United States to secure a reciprocal tariff deal before an impending deadline that could see tariffs on Thai goods rise to 36%. Finance Minister Pichai Chunhavajira reported that initial ministerial-level talks went well, receiving valuable feedback from US officials that has helped boost Washington’s confidence in their economic partnership. Thailand is refining its trade proposals to address US concerns, including commitments to reduce levies on US goods, remove non-tariff barriers, and tighten origin rules. The Thai Chamber of Commerce is optimistic that Thailand will achieve a more favorable tariff agreement than Vietnam, which recently accepted a 20% tariff on exports to the US and a 40% tariff on goods transshipped through its territory. With the July 9 deadline approaching, officials remain hopeful for a deal that is actionable and mutually beneficial, while also noting that countries delaying negotiations risk facing higher tariffs. The ongoing talks include engagement with US trade representatives, Treasury officials, and American companies invested in Thailand, underscoring the urgency and importance of the negotiations.