Bangkok: The Prime Minister of Thailand has assured the public that there is no need for concern following the United States’ recent decision to impose a 36% import tax on Thai goods. He announced that the government has prepared robust strategies to address the situation, including adjustments to the import tax structure and the formation of a negotiation team to engage with US counterparts. He emphasized that these measures aim to prevent any adverse impact on Thailand’s GDP target.
According to Thai News Agency, Prime Minister Ms. Paethongtarn Shinawatra addressed the situation, highlighting that the 36% import tax is one of the highest in the ASEAN region. She mentioned that while the import volume is not extensive, the high tax rate places Thailand among the top affected countries. To mitigate this, the government is exploring both short-term and long-term plans. In the immediate term, efforts will focus on negotiating support and relief for exporters. Discussions are underway within the Ministry of Fin
ance and the Ministry of Commerce to develop a comprehensive response.
The Prime Minister further explained that while the average tax rate is 9%, certain product categories have specific limits that cannot be surpassed. This average is part of a new calculation method that has not been previously applied. Following discussions with Mr. Chulaphan Amornvivat, Deputy Minister of Finance, the Prime Minister assured that a negotiation team is already in the pipeline, dispelling any immediate concerns.
When questioned about the negotiation leadership, the Prime Minister indicated that the Permanent Secretaries of the Ministry of Commerce and the Ministry of Finance would oversee the process. The level and representatives involved in the negotiations are still under review. The Prime Minister expressed confidence that the impact on Thailand would be minimal, thanks to proactive measures to support entrepreneurs and the opportunity for continued negotiations.
Regarding the disputed US claim of Thailand imposing a
72% import tariff, the Prime Minister clarified that this figure results from a different calculation method. The average actual figure is 9%, but the US method averages out to 72% due to certain product limitations.
The Prime Minister also addressed concerns about Chinese goods being routed through Thailand, stressing the need for strict investigation, as this issue predates the latest tax developments. He reassured that the GDP targets would remain unaffected and that further details would be provided by Mr. Chulaphan, who is responsible for financial aspects of the negotiations. Mr. Pansak Vinyarat, Chairman of the Prime Minister’s Policy Advisory Board, is leading efforts to evaluate trade measures with the US and ensure the country’s economic stability.