{"id":525,"date":"2025-04-08T22:15:52","date_gmt":"2025-04-08T16:45:52","guid":{"rendered":"https:\/\/etawahtoday.com\/?p=525"},"modified":"2025-04-08T22:15:54","modified_gmt":"2025-04-08T16:45:54","slug":"thailand-us-tariffs-response-import-tax-cut","status":"publish","type":"post","link":"https:\/\/etawahtoday.com\/index.php\/2025\/04\/08\/thailand-us-tariffs-response-import-tax-cut\/","title":{"rendered":"Thailand to Increase US Imports and Cut Taxes in Response to New US Tariffs"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><strong>Finance Minister Pichai Chunhavajira says negotiations with the US will take time; Thailand plans to balance trade over the next decade<\/strong><\/h3>\n\n\n\n<p><strong>Bangkok, April 9<\/strong> \u2013 Thailand has announced a set of strategic measures to counter the newly imposed 36% tariff by the United States, one of the highest rates in Southeast Asia under US President Donald Trump\u2019s administration.<\/p>\n\n\n\n<p>Speaking on Tuesday, Finance Minister <strong>Pichai Chunhavajira<\/strong>, who will lead Thailand\u2019s negotiation team, said the government will increase imports from the US, lower tariffs on some American products, and address non-tariff trade barriers to ease tensions and stabilize bilateral trade relations.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Talks with the US Confirmed, but No Rush to Travel<\/strong><\/h3>\n\n\n\n<p>Pichai stated that Thailand is in \u201cno rush\u201d to travel to the United States for immediate negotiations. \u201cOur proposals need careful planning and preparation. We are focused on building a sustainable trade roadmap,\u201d he said.<\/p>\n\n\n\n<p>Prime Minister <strong>Paetongtarn Shinawatra<\/strong> also confirmed that a meeting with the United States Trade Representative (USTR) has been scheduled. However, no detailed timeline was revealed.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Key Changes in Imports and Tariffs<\/strong><\/h3>\n\n\n\n<p>As part of the counter-strategy, Thailand plans to increase imports of various US goods such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Corn<\/strong><\/li>\n\n\n\n<li><strong>Soybeans<\/strong><\/li>\n\n\n\n<li><strong>Crude oil<\/strong><\/li>\n\n\n\n<li><strong>Ethane<\/strong><\/li>\n\n\n\n<li><strong>LNG (Liquefied Natural Gas)<\/strong><\/li>\n\n\n\n<li><strong>Automobiles and electronics<\/strong><\/li>\n\n\n\n<li><strong>Aircraft<\/strong><\/li>\n<\/ul>\n\n\n\n<p>Additionally, the Thai government will <strong>review rules on US pork imports<\/strong> and lower taxes on selected American products to encourage balanced trade and reduce the risk of future penalties.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Relief Measures for Exporters Amid Economic Concerns<\/strong><\/h3>\n\n\n\n<p>The Prime Minister urged Thai exporters to diversify and explore new markets to minimize dependency on US trade. Relief packages are being prepared to support businesses affected by the tariffs, which officials fear could reduce GDP growth by <strong>1 percentage point<\/strong> this year.<\/p>\n\n\n\n<p>Thailand initially forecasted <strong>3% economic growth<\/strong> in 2025, following <strong>2.5% growth<\/strong> in 2024, but the new tariffs could challenge that goal. The country has a significant <strong>trade surplus of $35.4 billion<\/strong> with the US, while Washington claims a <strong>$45.6 billion deficit<\/strong> with Thailand.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Stock Market Reacts to Tariff Announcement<\/strong><\/h3>\n\n\n\n<p>On the first trading day since the tariff news, <strong>Thailand\u2019s benchmark stock index plunged by 6.1%<\/strong>. In response, the <strong>Stock Exchange of Thailand (SET)<\/strong> implemented temporary circuit breakers:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Lowered stock floor and ceiling limits to 15%<\/strong> (from 30%)<\/li>\n\n\n\n<li><strong>Banned short selling<\/strong> to curb volatility<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p>Thailand now aims to <strong>balance trade with the US within 10 years<\/strong>, signaling a longer-term commitment to stable economic relations despite short-term challenges.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finance Minister Pichai Chunhavajira says negotiations with the US will take time; Thailand plans to balance trade over the next decade Bangkok, April 9 \u2013 Thailand has announced a set of strategic measures to counter the newly imposed 36% tariff by the United States, one of the highest rates in Southeast Asia under US President [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":526,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Thailand to Increase US Imports and Cut Taxes in Response to New US Tariffs - Etawah Today<\/title>\n<meta name=\"description\" content=\"Thailand plans to increase US imports, reduce taxes on American goods, and address trade barriers after the US imposed a 36% tariff. 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