Deputy PM Eyes 20% US Tariff

BANGKOK, July 18 (TNA) - Deputy Prime Minister and Finance Minister Pichai Chunhavajira is optimistic about a U.S. customs duty rate near 20% for Thai products, aiming for parity with regional competitors. This follows "Team Thailand's" recent "win-win" video conference negotiations with the U.S. Trade Representative (USTR).

Pichai said the detailed discussions were positive, and he anticipates results before the August 1 deadline. While acknowledging not all initial goals may be met, he hopes for a balanced outcome benefiting Thai industries.

Pichai also emphasized the need for Thailand to boost production efficiency to compete in open markets, stressing that increased imports should align with greater domestic manufacturing and exports. He added that the government must protect and support agricultural and SME sectors.

Vietnam, for example, is subject to U.S. tariffs of 20% and 40%, calculated by Regional Value Content (RVC). -819 (TNA)