Bangkok: Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, has affirmed that strategic planning in negotiations over US countervailing tariffs is in place to ensure Thailand is not disadvantaged. Pichai emphasized the transparency of the advisory team and expressed gratitude for the input from various stakeholders.
According to Thai News Agency, Mr. Pichai elaborated on the complexities and evolving nature of the negotiations with the United States, highlighting the involvement of major US entities including the Department of Commerce, the Office of the United States Trade Representative, and the US Secretary of the Treasury. The Thai government, Pichai noted, has mobilized the Fiscal Policy Office and the Department of Trade Negotiations to work in tandem, aiming for comprehensive and advantageous outcomes at all negotiation levels.
Pichai addressed the financial aspects of securing expert advisors, stating that typical consultancy fees in the US range from $20,000 to $300,000 per month. However, in this scenario, the urgency and significance of the negotiations, given Thailand's substantial trade and export stakes, justify higher fees for consultants with specialized skills and connections to US officials.
He reassured that all consultancy contracts comply with the Foreign Agents Registration Act (FARA), ensuring full transparency and public access to details via the US Department of Justice. Pichai underscored the importance of having knowledgeable advisors to navigate the complexities of international trade policies, emphasizing the potential negative impacts on Thai markets and exports if not managed carefully.
Pichai concluded by expressing his openness to constructive feedback, recognizing the critical role of informed decision-making in safeguarding Thailand's economic interests amidst global challenges.