BANGKOK: Thailand’s acting prime minister Phumtham Wechayachai expressed hopes for improved trade terms with the US, aiming to secure a more favorable agreement than the 36 percent tariff threatened by President Donald Trump.
The US initially imposed the rate in April but allowed a temporary 10 percent standby rate as negotiations continued ahead of a July 9 deadline.
Trump recently extended the negotiation deadline to August 1 while sending letters to multiple countries, maintaining pressure but adjusting tariff threats for some trade partners. “The most important thing is that we maintain good relations with the US,“ Phumtham stated.
“Once we reassess the situation, I hope we can secure a better deal.”
While Thailand still faces the same proposed tariff, the US has lowered rates for other trading partners. The extension provides additional time for Thailand to negotiate terms that could mitigate economic impacts. – AFP
