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Private sector advises government not to give too much in tariff talks with US

Private sector advises government not to give too much in tariff talks with US

14 Sept 04:20 Key points summarised by AI
  • Thai private sector and a House committee warn the government against offering broad tariff exemptions for US imports in upcoming trade talks, fearing significant losses for local industries and SMEs.
  • Thailand's negotiating team plans to propose extensive tariff exemptions on US goods, aiming to reduce the current 36% US tariff on Thai imports and achieve competitiveness with other ASEAN nations.
  • Experts caution against mirroring Vietnam and Indonesia's full concessions, advocating for the protection of domestic SMEs and suggesting targeted aid for industries potentially impacted by increased US imports.
  • Thailand's 36% tariff on US imports significantly exceeds rates for other ASEAN nations (e.g., Indonesia 19%, Vietnam 20%), intensifying pressure to secure a more favorable trade deal.
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