Thailand to increase energy, aircraft, and farm imports from US - Thai PM

Thailand will import more energy, aircraft, and farm produce from the United States, promote increased Thai investment in the US, and ease restrictions on US imports, in response to the Trump administration’s imposition of 36% tariffs on Thai exports to the US market, said Prime Minister Paetongtarn Shinawatra.

In her statement issued today to clarify Thailand’s stance on the US tariff increases, she acknowledged that the new tariffs will significantly impact Thailand’s exports of electronic products, processed food, and agricultural goods.

She also noted that many other countries have been affected by the increased tariffs and have adopted various coping measures. Some have chosen to retaliate by raising tariffs on US goods, while others are seeking dialogue, although negotiations remain inconclusive.

The prime minister emphasized that her government wants to send a message to the Trump administration: Thailand is not merely an exporting country but has long been a reliable ally and economic partner of the United States.

She revealed that her government established a working group on January 6 to prepare for the impacts of the trade war and has since held regular formal and informal discussions.

Summarizing the government’s response, she said Thailand will increase imports of US energy, aircraft, and farm products, and plans to strengthen cooperation with the US agricultural and industrial sectors, among others.

She assured that all plans will prioritize Thailand’s interests and added that the government wants the Thai private sector to expand investment in the US.

Simultaneously, the government will ease import restrictions and curb the re-export of goods manufactured elsewhere through Thailand to the US.

Finance Minister Pichai Chunhavajira will lead an official delegation to the US for talks with both government and private sector representatives regarding bilateral trade and the US tariffs on Thai goods.

The prime minister expressed confidence that the trade negotiations will yield mutually beneficial results.

She also promised short- and long-term support measures for SMEs and large businesses expected to be most affected by the tariff hikes.

Toward the end of her statement, the prime minister briefly addressed the recent earthquake, saying the government has done its best to mitigate the damage and compensate those affected.