Thailand plans to boost US imports, ease some tariffs

According to media reports, Thailand plans to boost US imports and cut some tariffs on American goods as it prepares to negotiate a more favorable position on new trade duties. The recently imposed 36% US tariff on Thailand was higher than expected and could reduce GDP growth by up to 1% this year. Thailand had aimed for 3% growth in 2025, following 2.5% last year, but the tariff shock has clouded that outlook.

Finance Minister Pichai Chunhavajira said negotiations would take time to prepare and that Thailand aimed to balance its trade with the US within a decade. To ease trade tensions, Thailand plans to increase imports of US goods including crude oil, ethane, LNG, vehicles, electronics, and aircraft.

The US reported a $45.6 billion trade deficit with Thailand last year, while Thai data showed a surplus of $35.4 billion.