Thai Finance Minister Dismisses US Tariff Rumours, Submits New Proposal

Thailand's Finance Minister asserts claims of imminent 18-36% US tariffs are false, confirming a revised offer will be made to Washington before the 9 July deadline

 

Thailand’s Deputy Prime Minister and Finance Minister, Pichai Chunhavajira, has today strongly refuted circulating rumours that the United States is set to impose tariffs of 18% to 36% on Thai goods.

 

He confirmed that a revised proposal would be submitted to Washington before the looming 9 July deadline.

 

Speaking after discussions with the US trade policy working group, Pichai stated, "I can confirm that the news circulating about Thailand being subject to tariff rates of 18-36% is untrue."

 

He clarified that "Team Thailand" has not yet reached a conclusion on the exact tariff rate the US will levy.

 

The US side, he added, would officially announce all tariff decisions simultaneously, urging the public to await only these formal results.
  

Addressing calls for transparency regarding the ongoing discussions, Pichai explained that the negotiations, involving both US and Thai teams, remain confidential as per agreement and standard negotiation etiquette.

 

He stressed that several negotiation points are still under consideration.

 

However, he reassured that the working group is firmly prioritising Thailand's national interest, aiming for a "win-win and sustainable" outcome for both countries.

 

The ultimate goal, he emphasised, is to ensure Thailand's economic and public sectors retain their competitiveness on the global stage.

 


"I believe that the US coming to speak with 'Team Thailand' is a positive signal," Pichai remarked. "The US remains open to working with us to find a common ground for both countries."


  

He confirmed that after comprehensive consultations with various ministries, including Commerce, Finance, Industry, Foreign Affairs, Agriculture, Public Health, and the Board of Investment (BOI), 'Team Thailand' would present its updated proposal to the US before 9 July.

 


"We hope the US will consider this in determining a tariff rate that is beneficial to Thailand," he added.


 

Looking beyond the 9 July deadline, Pichai expressed confidence that discussions would continue, ultimately leading to a final, comprehensive agreement.

 

He acknowledged that many countries have their own internal approval processes that follow such negotiations.

 

He hopes that during this period, Thailand will continue to benefit from a favourable tariff rate until the detailed negotiations are fully concluded.

 

"Certainly, the tariff rate we hope for is the lowest possible, to ensure Thailand remains competitive," he concluded.

(2025/07/06-00:00)