Finance Minister Pichai Chunhavajira will lead a delegation to the United States this week to discuss trade issues and tell the US that Thailand is not only an exporter but also a reliable friend of the US, Prime Minister Paetongtarn Shinawatra said on Sunday morning.
She said the US had imposed a 36% tariff on Thai exports and that many other countries were in a similar situation and were preparing measures in response.
“We believe that the world will see fierce retaliations through tax instruments. Many countries have decided to talk with the US government but none have seen any conclusive results,” Ms Paetongtarn said.
“The new measure has a significant impact on our exports, especially electronics, processed foods and farm products,” the prime minister said.
Ms Paetongtarn said the government on Sunday formed a working group to discuss the issue and consider proposals with the private sector and representatives of the US, both formally and informally.
“This week, Mr Pichai Chunhavajira, deputy prime minister and finance minister, will leave for discussions with many parties in the US - the government sector, the private sector and stakeholders,” the prime minister said.
“We will tell the US government that Thailand is not only an exporter but also an ally and economic partner that the US can rely on in the long term,” she said.
The government has come up with policy-related proposals including an increase in imports from the US in the energy, aircraft and farm sectors, the prime minister said.
Thailand plans to develop cooperation with the agricultural, industrial and other sectors in the US and there are many more details relevant to the matter, Ms Paetongtarn said.
Thailand will request that the US grant promotional privileges for Thai investors and fewer obstacles to Thai exports. It would also suppress products for export that claim to originate from Thailand (but in fact come from other countries), the prime minister said.
She said she was confident that the US would accept Thailand’s proposals so that the two countries remain allies and trading partners.
The Thai government was ready to listen more to the US and people could rest assured that the proposals that the government would prepare are all aimed at protecting the interest of Thailand, Thai people and business operators, the prime minister said.
She said that her government would introduce immediate and long-term measures to help affected Thai business operators - small and medium-sized enterprises and large-scale industrialists.
Ms Paetongtarn said that she would meet parties concerned on Tuesday to discuss plans to protect the national interest and economy.
