Thais revise trade offer with US

Pichai pitches LNG deal, Boeing jets buy

- WICHIT CHANTANUSORNSIRI

Thailand has offered to commit to a 20-year liquefied natural gas (LNG) import deal with the United States, and plans to acquire Boeing aircraft over the coming years to avert a punitive 36% export levy threatened by the Trump administration, according to Deputy Prime Minister and Finance Minister Pichai Chunhavajira.

These purchases are part of a broader effort to reduce Thailand's US$46 billion (1.5 trillion baht) trade surplus with the US by 70% within five years, aiming for a full balance within eight years, he said.

To sweeten the deal, Thailand has also offered to eliminate import tariffs on a wide range of US products, including agricultural and industrial goods, many of which are in short supply domestically. The proposal also outlines a phased reduction of non-tariff barriers. The revised offer comes just days before the expiration of a 90-day tariff freeze imposed by the Trump administration. If accepted, it could help Thailand avoid a punitive 36% export levy and secure a more favourable rate between 10% and 20%.