Thailand Proposes Tariff Cuts on U.S. Imports to Avert Trade War

Thailand has expanded its zero-tariff list for select U.S. imports while slashing duties on 90% of its exports to America. The MOVE aims to counter potential 36% U.S. tariffs on Thai goods—a threat tied to unresolved trade negotiations before August 1.

Finance Minister Pichai Chunhavajira framed the tariff reductions as a bilateral trade booster, noting Thailand's readiness to offer $6.1B in soft loans to cushion local businesses. The Thai National Shippers Council warns the proposed U.S. tariffs could spike import costs, erode competitiveness, and cap GDP growth at 1%—far below the central bank's 2.3% forecast.

Vulnerable sectors span consumer goods, electronics, and agricultural products like rubber and rice. Bangkok hopes the TRUMP administration will reciprocate with lower rates after reviewing Thailand's concessions.