Thailand aims for successful US tax deal before deadline, says Finance Minister Pichai

Thailand's negotiating team, led by Pichai, is set to close a deal on US tax tariffs before the July 9 deadline, with a focus on a win-win approach benefiting both countries.

A source from the Ministry of Finance disclosed that Thailand's negotiating team, or "Team Thailand," led by Deputy Prime Minister and Finance Minister Pichai Chunhavajira, has been invited to meet with various US agencies. The team also met with the US Chamber of Commerce, led by Charles Freeman, Senior Vice President for Asia, and high-level representatives from leading US companies investing and doing business in Thailand, starting from July 3.

"Thailand is among the countries currently negotiating. We have a clear schedule, unlike those who haven’t started talks, and thus have a higher risk of facing higher tax rates," the source stated.

Reports from international news outlets have provided an update on the progress of the US’s trade tax negotiations with over 100 countries, which could see tax rates reduced to 10%. Countries that have yet to begin negotiations may face higher tax rates.Previously, Pichai had discussed the critical phase of the ongoing negotiations, with a deadline around July 8. He confirmed plans to travel to the US for further discussions. However, the negotiations are not new and have been ongoing for some time, both officially and unofficially, with several proposals already submitted. This trip is to address any remaining issues.

Pichai explained that the key strategy for negotiations is to prioritise Thailand’s interests while taking into account the US’s limitations, aiming for a “win-win” solution where both sides’ interests align. In addition to tax matters, discussions have also included non-tariff barriers such as regulations, rules, and trade obstacles. This presents a valuable opportunity for Thailand to review and improve its regulations, enhancing the ease of imports and exports.

He further clarified that Thailand’s stance is clear: regardless of the tax rate imposed by the US, the key request is that Thailand is not taxed more than other countries to maintain its competitive edge. He noted that other nations likely share this same perspective.

(2025/07/04-00:00)