Ministry upbeat on new US proposal

Thailand's revised proposal to reduce import tariffs on thousands of US products is likely to be viewed favourably by the US, says finance permanent secretary Lavaron Sangsnit.

- WICHIT CHANTANUSORNSIRI

Mr Lavaron said yesterday Thailand submitted a revised proposal to the US Trade Representative (USTR), though the White House may not have seen it yet.

He said he was confident that once US authorities reviewed the new proposal, which differs significantly from the initial proposal, they would be satisfied.

Meanwhile, the Finance Ministry is preparing to deal with the impact of US President Donald Trump's tariff measures, said Mr Lavaron.

A 10-billion-baht contingency fund was allocated in the economic stimulus budget to address these impacts, while 40 billion baht remains in the stimulus budget that could be used to address these effects, he said.