Finance minister asks for understanding if US does not reduce tariffs

Finance Minister Pichai Chunhavajira said today he expects to be informed, within the next 24 hours, about the decision by the United States regarding the tariff rate to be imposed on Thai imports to the US market, whether it is 36%, as earlier announced, or lower.

He added, however, that his negotiating team has done its very best, by taking into account trade information, legal issues and impacts on Thai production, exports, employment and economic stability, with the goal of protecting national interests as much as possible, under the framework of the Agreement on Reciprocal Tariffs, which has been very complicated and challenging due to the tough stand of the US.

He also said that his negotiating team has submitted proposals and observations to the US on several occasions over the past several weeks, aimed at exploring a solution which is sustainable and balanced, adding that his team has not been complacent or submissive to US demands.

“If the tariff is better than expected, we can all celebrate,” said Pichai, adding however that, if the outcome is worse than expectations, he would like the Thai public to understand that his team has done its best.

He expressed hope that Thailand will be able to weather this crisis, with the cooperation of all parties concerned.

Meanwhile, Acting Prime Minister Phumtham Wechayachai claimed that US President Donald Trump called him at about 10pm after, a ceasefire agreement was concluded between Thailand and Cambodia in Malaysia, praising Thailand for its handling of the border disputes with Cambodia and promising to do his best regarding the tariff issue with Thailand, but stopped short of saying how much the tariffs will be on Thai imports.

Trump, he added, also showed his interest in visiting Thailand and his expressed his appreciation for the Thai culture.