Bangkok: The president of Thailand's Chamber of Commerce has expressed confidence that the ongoing tariff negotiations with the United States are within an acceptable framework. He emphasized that the negotiations do not present a distinct disadvantage or advantage for Thailand and suggested that exports may remain stable if the tax rates are not significantly disadvantageous compared to competitors.
According to Thai News Agency, Mr. Poj Aramwattananon, Chairman of the Thai Chamber of Commerce and Board of Trade of Thailand, commented on the tariff discussions, stating that Deputy Prime Minister and Minister of Finance, Mr. Pichai Chunhavajira, had submitted a new proposal to the U.S. just before the deadline. Mr. Aramwattananon believes that the proposal aligns with acceptable standards, as the U.S. aims to expand its exports globally, not solely focusing on Thailand.
Regarding imports from the United States, Mr. Aramwattananon noted that energy and agricultural products should not adversely affect Thailand's domestic agricultural sector. He highlighted the potential for development and added value while maintaining a balance. He also expressed a preference for Thailand to be taxed at the lowest possible rate, citing Vietnam's 20% tax rate despite having a trade surplus with the U.S. thrice that of Thailand's.
Efforts to address counterfeit products have been underway for over a month, involving collaboration between the Department of Foreign Trade, Ministry of Commerce, the private sector, and industry bodies. Mr. Aramwattananon expressed confidence in resolving these issues effectively.
In response to a recent post by President Trump on Truth Social regarding differential tariff rates, Mr. Aramwattananon speculated that countries not involved in negotiations might receive letters, while Thailand and other negotiating countries await outcomes.
Addressing Thailand's economic outlook for the second half of 2025, Mr. Aramwattananon emphasized the importance of the U.S. negotiations in determining export performance. He suggested that stability in domestic politics is crucial for economic progress and called for government consultation with the private sector to address declining tourism, particularly with decreased Chinese tourist numbers.