Kobsak wants focus on autos, farming

The automotive and agricultural sectors are crucial areas requiring negotiation with the US to address the reciprocal tariffs imposed on Thai imports, says Kobsak Pootrakul, director and senior executive vice-president of Bangkok Bank.

- SOMRUEDI BANCHONGDUANG

The former minister to the Prime Minister's Office said the government must be well-prepared with trade policies and strategies for negotiations with the US, following Washington's decision to impose a 36% reciprocal tariff on Thai goods.

Thailand's trade strategy should focus on the automotive and agricultural sectors, in particular, which have recently raised concerns from the US, said Mr Kobsak.

In a recent address, US President Donald Trump said high tariffs in many sectors continue to hinder access to the Thai market for many US products.

The highest ad valorem (value-based) tariff rates apply to imports competing with locally produced goods, including automobiles and auto parts, motorcycles, beef, pork, poultry, tea, tobacco, flowers, beer and spirits, and textiles and apparel.

Wine imports are subject to a 54% tariff and six different duties and taxes that when combined equal nearly 400%.