Thai Finance Minister Heading to US for Key Tariff Talks

Pichai Chunhavajira set to discuss trade and tax issues next week amid speculation over tariff reductions

 

Thailand's Finance Minister Pichai Chunhavajira has confirmed  on Friday that he will travel to the United States next week for crucial negotiations on trade and tax matters, after securing a meeting slot.

 

The Minister addressed recent online speculation suggesting the US might reduce retaliatory tariffs on Thai goods from 36% to 18%. 

 

"This is not yet true," Pichai clarified. He explained that discussions between Thai and US officials are ongoing, and any figures currently circulating are not official but rather estimates used by the Bank of Thailand and economists for modelling economic impacts.

 


"We are in the midst of negotiations; we haven't reached a conclusion yet," Pichai stated. "The talks about the US import tariff being cut to 18% are not yet factual; they are merely economists' estimates."
 
 

Behind the Negotiations: US and Thai Proposals

Reports indicate that the dialogue between Thailand and the US, aimed at resolving retaliatory tariffs and the US trade deficit, commenced on 18 June 2025. 

 

The Office of the United States Trade Representative (USTR) has put forward five proposals for Thailand's consideration:


Tariff measures and quotas
Non-tariff trade barriers
Digital trade
Rules of origin
US domestic and economic security
 
 

Thailand's counter-proposal, spanning approximately 3-4 A4 pages, expands on a previous five-point framework submitted to the US. 

 

This includes suggestions such as reducing import tariffs on certain goods, the purchase of Boeing aircraft and military equipment from the US, and a reduction in non-tariff trade barriers. 

 

No definitive conclusions have been reached on these proposals yet.

 

When questioned about the economic repercussions of the recent bombing at Phuket Airport, which has been linked to the three southernmost provinces, Pichai offered no comment and immediately proceeded to his office.

(2025/06/27-00:00)