The move aims to prevent the US from imposing a 36% levy on Thai goods after a temporary 10% cap expires on July 9.
The US is Thailand’s largest export market, accounting for 18.3% of shipments worth $54.96 billion in 2023.
Pichai stated that the new proposal addresses US concerns while protecting Thai interests.
“We are offering zero tariffs on a substantial number of items, though not across the board.” The US Trade Representative acknowledged Thailand’s efforts but suggested minor refinements.
Pichai highlighted plans to boost imports of US natural gas and reduce tariffs on American corn, currently taxed at 73%.
Thailand’s economy faces challenges, including weak consumption, rising debt, and trade uncertainties.
Trade discussions are expected to continue beyond the tariff pause, as negotiations involve multiple stakeholders. “It’s not just about tariffs but expanding trade opportunities,“ Pichai added. - Reuters
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