Pichai Chunhavajira Scheduled to Talk Trade & Tax with US Next Week amid Tariff Rumors
Thai Minister of Finance departing for critical discussions on tariffs in the United States.
Thailand's Finance Minister, Pichai Chunhavajira, is set to jet off to the US next week for a high-stakes meeting regarding trade and tax issues — all this following securing a much-sought-after meeting slot.
Pichai spoke out about the recent online chatter suggesting a possible reduction in US retaliatory tariffs on Thai goods from 36% to 18%. "Ain't none of that true yet!" Pichai clarified, adding that discussions between Thai and US officials are still ongoing.
He went on to explain that any tariff percentage figures currently swirling about are just models drawn up by the Bank of Thailand and economists analyzing potential economic impacts. "We're still hammering this out, no concrete conclusions reached here, folks," Pichai emphasized. "Those rumors about the US import tariff dropping to 18% are pure speculation – just something economists' wild guesses for now."
TAGS
- Thailand
- US tariffs
- Trade Talks
- Pichai Chunhavajira
- The Finance Ministry
Behind the Scenes: US & Thai Proposals
According to reports, the talks between Thailand and the US, initiated on June 18, 2025, cover these pivotal areas:
- Tariff Measures & Quotas
- Non-Tariff Trade Barriers
- Digital Trade
- Rules of Origin
- US Domestic & Economic Security
While Thailand's detailed counter-proposal remains under wraps, it's believed to extend upon a previous five-point framework, featuring ideas like[1][2]:
- Boosting Processed Food Trade: Thailand proposes using its processed food industry to import US agricultural products, process them, and re-export on a global scale, thereby supporting US agricultural exporters.
- Increasing US Imports: Thailand intends to increase its imports of key US goods, including energy (oil, LNG, ethane), aircraft and parts, military equipment, and agricultural commodities like corn, soybeans, and beef, to strengthen trade ties and meet domestic demands.
- Market Liberalization & Trade Barrier Elimination: Thailand suggests reducing import tariffs for thousands of items under the Most Favored Nation (MFN) system and easing non-tariff barriers obstructing US products, including opening Thai markets to US cherries, apples, wheat, corn, and meat.
- Strict Rules of Origin Enforcement: To maintain the integrity of Thai products in the US market, Thailand aims to strengthen rules of origin enforcement, tackling the mislabeling of third-country goods as "Made in Thailand" through transshipment.
- Trade Facilitation Measures: While the specifics remain unclear, the framework may additionally address digital trade facilitation and addressing US domestic and economic security concerns.
Toward a Mutual Partnership
Though Thailand's proposals are still under negotiation, the talks present a strategic opening to avoid punitive US tariffs and boost trade in energy, agriculture, and manufacturing sectors[3][4]. A successful negotiation could strengthen Thailand's export outlook, reduce trade tensions, and deepen economic ties.
[1] Thai Political Magazine, "Five Strategic Points in Thailand-US Negotiations", June 20, 2025[2] Bangkok Post, "Thailand's Counter-Proposal to US Trade Proposals", June 25, 2025[3] Reuters, "Thailand Ready for Next Round of Trade Talks with US", June 28, 2025[4] Bloomberg, "Thai Finance Minister Prepares for US Talks Amid Trade Tensions", June 29, 2025[5] Wall Street Journal, "US-Thailand Trade Talks Set to Move Forward on Key Issues", July 1, 2025.
- Pichai Chunhavajira, the Finance Minister of Thailand, is set to engage in discussions about trade and tariff issues with US officials, with these talks potentially leading to a significant improvement in business and economic ties between the two countries.
- The negotiations, scheduled to take place next week, will focus on several key areas, including tariff measures and quotas, non-tariff trade barriers, digital trade, rules of origin, and US domestic and economic security.
- Thailand's counter-proposal, while yet to be fully disclosed, is believed to build upon a previously proposed five-point framework, which includes boosting processed food trade, increasing US imports, market liberalization, strict rules of origin enforcement, and trade facilitation measures.
- The successful outcome of these talks could lead to a strengthening of Thailand's export outlook, a reduction in trade tensions, and a deepening of economic ties, benefiting both the finance and tourism sectors of both countries, as well as the broader business and investing communities.
