Thailand well-prepared for tariff negotiations with US

Thailand plans to reform its import duty structure and non-trade barriers as it prepares for talks with the U.S. to lessen the impact of a 36% tariff on its exports, according to Deputy Prime Minister and Finance Minister Pichai Chunhavajira.

Pichai is preparing to travel to Washington D.C. with a delegation to negotiate with the U.S. Trade Representative (USTR) after finalizing measures to propose for the U.S. to consider.

He said on Tuesday that any measures Thailand negotiates in talks with the country must be practical and feasible.

The Office of the USTR in a report last month listed high barriers of trade with Thailand, including lax intellectual property protection, sanitary and phytosanitary curbs, import licensing rules and incentive systems for customs officials as major irritants.

Pichai said that an April 8 meeting determined five approaches to reforms: namely finding ways to balance trade between the two countries; reducing or eliminating the barriers facing 100 items imported from the U.S. that are subject to low import taxes; addressing non-tariff issues, which are a priority for the U.S.; apply stricter control measures when issuing certificates of origin; and purchasing natural gas from the U.S.