Bangkok, April 8: Thailand plans to increase imports from the United States, reduce some taxes on American goods, and address non-tariff barriers. This initiative aims to negotiate a more favorable agreement regarding new U.S. tariffs imposed on the country.
The current 36% tariff imposed by the U.S. is higher than anticipated, potentially impacting Thailand's economic growth by one percentage point this year. Prime Minister Paetongtarn Shinawatra confirmed a meeting with the United States Trade Representative to discuss these issues.
To mitigate risks, Thai exporters are encouraged to diversify into new markets. The government is also considering relief measures for businesses affected by the tariffs. Thailand's stock index experienced a significant drop following the tariff announcement, prompting temporary measures to reduce market volatility.