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(Bloomberg) — Thailand’s finance minister will present fresh proposals to US trade officials in talks scheduled for Wednesday, the latest effort by the nation to avoid a 36% tariff threatened by President Donald Trump.
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Thai Finance Minister Pichai Chunhavajira will hold a video conference with US Trade Representative Jamieson Greer in which he will discuss revised measures, including additional tariff waivers on US goods, Commerce Minister Jatuporn Buruspat said by phone.
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Thai officials are confident they can strike a deal with Washington before the Aug. 1 deadline when the threatened tariffs will kick in. Thailand had previously pledged to eliminate import duties on 90% of US goods and to remove various non-tariff barriers. The government had also offered to increase purchases of US agricultural and energy products in a bid to reduce its trade surplus, which stood at $46 billion last year.
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The Southeast Asian nation, which has previously reduced tariffs on imports of longan and tilapia from other countries, could drop the levy on those goods to zero for the US, the finance minister said earlier this week. He also said that while he is pushing for a 10% tariff rate, a range between 10% and 20% would be acceptable.
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Trump has said the US will impose a 19% tariff rate on Indonesia and 20% on Vietnam.
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The US was Thailand’s largest export destination in 2024, accounting for approximately 18% of total shipments. Thai exports have increased by about 15% in the first five months of this year, driven by accelerated orders ahead of the anticipated tariff implementation.
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