In a proactive move to strengthen international trade ties, Thailand’s Finance Minister and Deputy Prime Minister Pichai Chunhavajira is traveling to the United States for a two-day trade mission focused on finalizing favorable tariff terms that will support continued export growth and economic cooperation.
The discussions come as the current tariff moratorium approaches its July 9 expiration. Under the temporary framework, most nations face a 10% tariff rate, while Thailand could be subject to a higher rate of up to 36% if new terms are not agreed upon. However, Thai officials remain confident that the outcome will reflect equitable trade practices and mutual economic benefit.
“Our goal is to ensure Thailand receives fair treatment and remains competitive in global markets,” said Minister Pichai during a local broadcast, expressing optimism about the discussions.
Commerce Minister Pichai Naripthaphan previously indicated that the negotiations could result in a lower and more favorable tariff rate for Thailand, potentially aligning with the 10% standard. This would support Thai exporters and reinforce the country’s strategic role in the global supply chain.
Thailand has also expressed interest in extending the discussions beyond the moratorium deadline, highlighting its commitment to long-term, sustainable trade relationships with key partners like the United States.
This initiative underscores Thailand’s active role in the global trade landscape and its focus on fostering stable, transparent, and mutually beneficial partnerships.
#ITCNewsUpdates #TradeUpdate #PositiveNews #GlobalTrade #EconomicDiplomacy #NewsUpdate