Impacts from the tariff deal

"Japan allows only a small amount of rice imports from the US, despite consuming 10 million tonnes of rice annually. The US is granted a quota of just 770,000 tonnes, or 7-8% of Japan's total domestic consumption. Japan has never truly opened up its agricultural sector to the US in any substantial way."

- 

He said Thailand must position itself as a destination where wealthy people from around the world come to use services — to travel, eat, seek healthcare, and enjoy entertainment.

"We must not abandon production, but we will no longer serve as only a base for original equipment manufacturers, because we cannot sustain that role with a 19% tariff," said Mr Sompop.

LOWER EXPECTED COSTS

Visit Limlurcha, president of the Thai Future Food Trade Association and vice-chairman of the Thai Chamber of Commerce, said the US tariff deals enable America to export goods to many countries without a tariff.

This could significantly benefit Thai consumers, as the removal of tariffs is expected to reduce the prices of US imports. For example, animal feed ingredients and electronic components from the US could be imported for processing or use as raw materials.

These changes should lower production costs and provide savings for importers, leading to decreased prices for consumers and enhancing the competitiveness of Thai exports in global markets, he said.

"Consumers can also look forward to a greater variety of products," said Mr Visit.

Temperate fruit such as apples and grapes from the US as well as walnuts, almonds, cosmetics, pharmaceuticals, dietary supplements and vitamins could soon become more available at lower prices, he said.

High-quality American products are likely to appeal to middleand upper-income consumers already seeking these items, said Mr Visit.

Last year Thailand imported goods worth 696 billion baht from the US. In the first half of this year, imports amounted to 358 billion baht.

The main items included crude oil valued at 84.3 billion baht, machinery and parts totalling 33.7 billion baht, and chemicals worth 20.6 billion.