Thailand plans to import more energy, aircraft, and farm produce from the US, promote Thai investment in the US, and ease restrictions on US imports in response to the Trump administration’s 36% tariffs on Thai exports, according to Prime Minister Paetongtarn Shinawatra.
Key Points
- In response to the US imposition of 36% tariffs on Thai exports, Thailand plans to increase imports of US energy, aircraft, and farm produce, and promote Thai investment in the US while easing restrictions on US imports.
- The Thai government, led by Finance Minister Pichai Chunhavajira, will engage in trade negotiations with US government and private sector representatives to address the tariff issue.
- The Thai Prime Minister has promised short- and long-term support measures for SMEs and large businesses expected to be most affected by the tariff hikes, and has briefly addressed the recent earthquake, assuring that the government is working to mitigate the damage and compensate those affected.
Prime Minister Paetongtarn Shinawatra recognized the challenges posed by these tariffs on Thailand’s exports, highlighting that other nations have faced similar issues and implemented diverse strategies to mitigate the effects. She underscored Thailand’s position as a dependable ally and economic partner of the United States. To address the repercussions of the trade war, a dedicated working group was formed on January 6.
The government will prioritize Thailand’s interests and encourage the Thai private sector to expand investment in the US. Finance Minister Pichai Chunhavajira will lead a delegation to the US for trade talks. The prime minister expressed confidence in mutually beneficial results from the negotiations and promised support measures for businesses affected by the tariff hikes.
The delegation aims to explore opportunities for strengthening economic ties, addressing trade imbalances, and fostering innovation-driven partnerships. Key sectors such as technology, renewable energy, and manufacturing are expected to be focal points during the discussions. Additionally, the Thai government is set to propose strategies to mitigate the impact of recent tariff adjustments on exporters, ensuring long-term resilience for affected industries.
