Thailand mulls zero-duty for U.S. goods, earmarks 200B baht for exporters hit by Trump tariffs

neiu20001/iStock Editorial via Getty Images

Thailand is considering granting zero-duty market access to more U.S. goods in a bid to persuade the Trump administration to roll back a proposed 36% tariff on Thai exports.

Finance Minister Pichai Chunahavajira said Thailand may reduce tariffs on imports such as longan and tilapia fish from the U.S. to zero, similar to cuts made for other countries.

The government is also reviewing regulations to potentially allow imports of left-hand drive vehicles from the U.S. and remove taxes on goods already covered by free trade agreements with other nations.

Speaking at a trade seminar in Bangkok on Monday, Pichai said the U.S. is pushing for “ambitious proposals,” though he did not provide details. He added that talks between the two sides are ongoing as they work toward a deal.

Thailand has committed to eliminating import duties on 90% of U.S. goods and to removing a range of non-tariff barriers.

Separately, the Thai government has prepared a 200-billion-baht soft loan package to support exporters expected to be impacted by punitive US import tariffs, Chunhavajira announced on Monday.

MORE ON ISHARES MSCI THAILAND ETF, INVESCO DORSEY WRIGHT EMERGING MARKETS MOMENTUM ETF, ETC.

* MSCI Q2 Preview: More Than An Index Franchise, Initiate With Buy Rating [https://seekingalpha.com/article/4800694-msci-q2-preview-more-than-an-index-franchise-initiate-with-buy-rating]
* MSCI: Revenue Visibility Like No Other [https://seekingalpha.com/article/4799593-msci-revenue-visibility-like-no-other]
* MSCI: Staying Buy Rated As Fundamentals Have Improved While Valuation Derated [https://seekingalpha.com/article/4792269-msci-staying-buy-rated-as-fundamentals-have-improved-while-valuation-derated]
* Rubio holds first in-person talks with Chinese counterpart at Malaysia summit amid trade tensions [https://seekingalpha.com/news/4466705-rubio-holds-first-in-person-talks-with-chinese-counterpart-at-malaysia-summit-amid-trade-tensions]
* US urges South Korea to join forces in countering China’s shipbuilding dominance [https://seekingalpha.com/news/4466690-us-urges-south-korea-to-join-forces-in-countering-chinas-shipbuilding-dominance]