Thailand at ‘last paragraph’ of US trade deal, says PM
SINGAPORE - Thailand is at “the last paragraph” ‌of a trade agreement with the United States, Prime Minister Anutin Charnvirakul said on Wednesday.
Thailand finds itself at "the last paragraph" of a trade agreement with the United States, according to Prime Minister Anutin Charnvirakul. Speaking at a forum in Singapore, Mr Anutin expressed his expectation that the Agreement on Reciprocal Trade would be signed during President Donald Trump's upcoming visit to Asia, likely in Manila for Asean meetings from November 16-18 or Shenzhen for the Asia Pacific Economic Cooperation (Apec) summit on November 18-19.
The Prime Minister received a letter from Trump last week, confirming the deal is in its final stages. He clarified that it was his responsibility to ensure that the final clause would be drafted by Thailand's trade representatives and the US Trade Representative. In July, the US imposed a tariff of 12.5% on non-exempt imports from Thailand, based on findings that the country failed to do enough to combat the use of forced labor.
A separate investigation into production overcapacity, a concern raised by Washington, is pending and could impact the final tariff rate. Another key issue for the US is goods being transshipped through Thailand to avoid trade measures, particularly goods coming from China. Thailand's trade deficit has hit historic highs this year, with the Kasikorn Research Center predicting it could reach $50 billion in 2026, the highest on record since 1991.
The US is Thailand's largest export market, accounting for 24% of the country's total exports so far in 2023.
Written by urgent.news from Bangkok Post Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
