Bangkok: Pichai reiterated that the US import tax from Thailand will remain at 10% until the end of July. During this time, there is still time to negotiate and persuade the US to reconsider the new tax rate. He believes that if the market is opened to more US products, along with reducing the tax rate or non-tax measures, the US will also reduce the tax for Thailand. The FTI is preparing to discuss with the Minister of Finance tomorrow.

According to Thai News Agency, Deputy Prime Minister and Finance Minister Pichai Chunhavajira, who is the head of the international trade negotiation team or Team Thailand, said that the import tax that the United States has collected from Thai products remains at the same rate of 10%, except for some product items. The rate will remain until July 31, 2025.

The letter from the United States indicated that import tariffs on Thai goods will be collected at a rate of 36% from August 1st onwards. This timeline presents an opportunity for Thailand, as it extends the negotiation period previously set to end on July 9.

If the US opens up an opportunity for Thailand to negotiate, and if Thailand can open its market to the US more and reduce tariffs or non-tariff measures, the US side is also ready to consider reviewing new tariffs for Thailand. Mr. Pichai confirmed that the Thai negotiating team is committed to finding additional solutions and continuing negotiations to ensure that Thailand gets the best deal.

Mr. Poj Aramwattananon, President of the Thai Chamber of Commerce and Board of Trade of Thailand, stated that the Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB), consisting of the Board of Trade of Thailand, the Federation of Thai Industries (FTI), and the Thai Bankers Association, will meet with Mr. Pichai. They aim to review proposals for trade balance negotiations and measures to cope with the situation. It is believed that negotiations must be expedited to achieve results before August 1, with hopes for positive outcomes.