Thailand's trade talks with the US are expected to be concluded before Aug 1, and US tariffs on the country are not expected to be as high as 36%, its finance minister said on Tuesday.
The US was Thailand's largest export market last year, accounting for 18.3% of total shipments, or US$54.96 billion (RM232.81 billion). Washington has put its deficit with Thailand at US$45.6 billion.
Thailand is ready to negotiate and its proposal remains the same, Finance Minister Pichai Chunhavajira told reporters.
"The US has already opened the way for further negotiations, and we will continue the discussions," he said.
Asked whether the talks could be done before the Aug 1 deadline, Pichai said, "Yes, it can be done in time. We are definitely ready and now we will see how the US decides."
US tariffs on Thailand could be announced on Aug 1 or Aug 2, Pichai said.
"This is roughly where things stand. I think it's very close now," he added. "I believe we definitely should not face 36%."
Earlier this month, Pichai said the country made more concessions in addition to an earlier improved trade proposal that offered zero tariffs on many US products.
He said US tariff rates on Thailand are expected to align with other countries in the region.
Vietnam and Indonesia now face US tariffs of 20% and 19% respectively, significantly lower than the levels announced in April.
Source: The Edge Malaysia
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<p>Time: November 2025<br /> By: WTO and International Trade Group, Legal Department – VCCI</p>
