Thailand will hold trade talks with US next week, finance minister says

Cabinet meeting at Thai Government House in Bangkok

FILE PHOTO: Thailand's new Finance Minister and Deputy Prime Minister Pichai Chunhavajira reacts on the day of the cabinet meeting at Thai Government House in Bangkok, Thailand, May 7, 2024. REUTERS/Chalinee Thirasupa/File Photo

Source: REUTERS

Thai Finance Minister Pichai Chunhavajira said on Friday he will travel to the United States for trade talks next week.

The negotiation date has been scheduled, he told reporters, without elaborating.

Thailand faces a 36% U.S. tariff on its exports, a key driver of growth, if it fails to negotiate a reduction before a moratorium expires in July. A tariff of 10% has been set for most nations while the moratorium is in place.

Earlier this month, Thailand's commerce minister Pichai Naripthaphan said talks between the two countries could reach good terms on tariffs, and possibly settle on a rate as low as 10%.

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Thailand has said it hopes the negotiations will be extended beyond the expiry of the tariff pause next month.

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters