Thailand's Finance Minister, Pichai Chunhavajira, has refuted reports of a finalized 18% tariff agreement with the United States. He clarified that the figure was an estimate used for economic planning, emphasizing that no official agreement has been reached.
The U.S. has threatened to impose a 36% tariff on Thai imports by July 9 if a reduction agreement isn't reached. In response, Thailand submitted a formal trade proposal to address tariffs, non-tariff barriers, digital trade, and economic security.
Thailand's proposal aims to reduce tariffs, increase purchases of U.S. goods, and boost investments. Minister Chunhavajira stated that ongoing political tensions in Thailand will not affect the trade negotiations.