AMID ONGOING negotiation with the US on reducing the punitive 36% tariff on Thais exports looming on August 1 the Thai team last night (July 16) offered to slash the levy on tens of thousands of US goods to 0%, Thai Rath newspaper said.
Commerce Minister Jatuporn Buruspat said the Thai team, led by Deputy Prime Minister-cum-Commerce Minister Pichai Chunhavajira, held talks with United States Trade Representative (USTR) via video conference on this new offer as well as other proposals.
The government has prepared relief measures for those affected with this divided into two parts: If the US imposes 36% tariff what products would be affected and to what extent the impact on workers in various industries and likewise if 20% is imposed what products and groups of workers would be impacted.
Deputy Commerce Minister Chantawit Tantasith said he held talks with US Ambassador Robert F. Godec during a courtesy call to the ministry on Tuesday with this ministry having in-depth import and export statistics and has done impact analysis.
Mr. Thanakorn Ketsawan, president of the Thai National Shippers’ Council (TNSC), said as Vietnam closed the deal with the US at 20% tariff and Indonesia 19%, Thailand wants to reach a settlement at 18%, which is a difference of 1-2%.
Thailand has a chance of achieving this target as it should not be placed at a disadvantage to its four major Asean competitors, the Philippines, Malaysia, Indonesia, and Vietnam, he said, adding Thailand has reduced import tariff on US goods to 0% for 90% of the products.
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A graphic image of Thai exports. Credit: Thai Rath
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