US tariffs on Thai goods 'unlikely to exceed 20%'

Finance Minister Pichai Chunhavajira has expressed confidence that US tariffs on Thai imports will not exceed 20%, keeping them broadly in line with those imposed on neighbouring Asean countries.

- WICHIT CHANTHANUSORNSIRI PHUSADEE ARUNMAS AEKARACH SATTABURUTH

Speaking following formal negotiations with US representatives on Thursday night, Mr Pichai, who also serves as a deputy prime minister, described the discussions as constructive and noted that the overall atmosphere was positive.

He said he anticipates the tariff rate to be similar to those applied to other countries in the region, and that a final decision from Washington is expected prior to the Aug 1 deadline.

“We are part of this region, and I would speculate that we are likely to receive a tariff rate within the same grouping,” Mr Pichai said. “As to whether it will not exceed 20 percent — that appears to be the implication.”

Mr Pichai added that while a definitive response may not be received immediately, he believes the latest talks on Thursday have already been forwarded to higher-level decision-makers in the US government.