BANGKOK (Reuters) -Thailand’s commerce minister on Monday said his country would have trade talks with the United States and expressed confidence both sides could agree on good terms on tariffs, possibly as low as 10%. Pichai Naripthaphan told reporters he expected the talks would go well. He said Thai and U.S. officials would hold talks […]
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Thai commerce minister confident of negotiating U.S. tariffs as low as 10%
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BANGKOK (Reuters) -Thailand’s commerce minister on Monday said his country would have trade talks with the United States and expressed confidence both sides could agree on good terms on tariffs, possibly as low as 10%.
Pichai Naripthaphan told reporters he expected the talks would go well. He said Thai and U.S. officials would hold talks this week via video conference, he said, but said a date for talks at a ministerial level had not yet been set.
He did not provide details on what would be discussed in the talks or why he thought the tariff level would be lowered from the 36% rate that the U.S. has said it will put on Thai goods.
“Don’t worry, we have everything prepared. The negotiation should be successful,” he said. “We are in the process of detailing what is involved, but we can’t tell you yet.”
Pichai also said export data in May were “good” and would be released on Wednesday.
He also called for a weaker baht to support exports and tourism, saying a level of 37-38 per U.S. dollar was an appropriate level.
The baht traded at 32.45 against the U.S. dollar on Monday.
(Reporting by Orathai Sriring, Kitiphong Thaichareon, Thanadech Staporncharnchai; Editing by Martin Petty and John Mair)