AnySelected

Bangkok, Thailand – Thailand’s Deputy Prime Minister and Finance Minister, Pichai Chunhavajira, has strongly refuted circulating reports suggesting the United States is preparing to impose a 36% tariff on Thai goods. The denial comes as negotiations between the two nations reach a critical juncture, with a looming deadline adding pressure to the discussions.

The rumours, which have been swirling in recent days, sparked concerns within the Thai business community and raised questions about the potential impact on Thailand’s trade relationship with the US. Chunhavajira stated unequivocally that the claims are “false” and that there is no basis for the reported tariff increase. He assured the public that Thai officials are actively engaged in constructive dialogue with their US counterparts to address any existing trade concerns.

“We are aware of the speculation, but it is simply not true,” Chunhavajira told reporters. “Our teams are working diligently to maintain a positive and productive relationship with the United States. We believe that through open communication and mutual understanding, we can resolve any outstanding issues.”

The potential imposition of a 36% tariff would have significant implications for Thailand’s export-oriented economy, particularly impacting key sectors such as automotive, electronics, and agricultural products. Many businesses rely heavily on the US market, and such a drastic increase in tariffs would likely lead to reduced exports, job losses, and economic instability.

While the specific details of the ongoing negotiations remain confidential, sources indicate that discussions are focused on addressing US concerns regarding Thailand’s trade practices and intellectual property protection. The US has previously expressed concerns about Thailand’s adherence to international trade rules and the protection of American companies’ intellectual property rights.

The deadline looming over the negotiations adds a sense of urgency to the situation. Both sides are under pressure to reach an agreement that avoids the imposition of tariffs and maintains a stable trading environment. Analysts suggest that a failure to reach a consensus could have wider implications for regional trade and investment.

The Thai government remains optimistic that a mutually beneficial agreement can be reached. Chunhavajira reiterated the country’s commitment to upholding international trade standards and fostering a fair and transparent business environment. He emphasized that Thailand values its trade relationship with the US and is dedicated to finding a resolution that benefits both nations.

The situation is being closely monitored by businesses and investors alike, who are hoping for a swift and positive outcome to the negotiations. The next few days are expected to be crucial as both sides work towards a final agreement that safeguards Thailand’s economic interests and strengthens the bilateral trade relationship with the United States.