Bangkok: The Minister of Commerce expects the United States to announce tariffs on imported goods from Thailand within 24 hours, believing they will be similar to rates in the same region. He confirmed the continued implementation of relief and support measures for all affected sectors.

According to Thai News Agency, Mr. Chatuporn Buruspat, Minister of Commerce, stated that the trade agreement negotiations between Thailand and the United States, conducted by the USTR, have reached an agreement after Thailand submitted a final proposal for consideration in response to the US request for further review of certain issues. The Thai team has considered the matter based primarily on the country’s interests.

The Ministry of Commerce, which provided information and strategies for the negotiations, has been working diligently, including the RVC criteria regarding local content adjustments. The US is believed to have been satisfied with this, leading to an agreement. However, further details cannot be provided at this time.

Mr. Jatuporn expects to hear the outcome of the tariffs from the United States within 24 hours. The situation on the Thai-Cambodian border is one factor that has delayed the final agreement until the August 1 deadline for the announcement of new tariffs. He believes the United States is considering the overall region, and therefore the tariffs to be determined will likely be similar to those of countries in the same region that have reached previous agreements.

Mr. Jatuporn stated that the government is moving forward with relief measures for all sectors affected by the ongoing trade war, including soft loans. The Ministry of Commerce will expedite negotiations to open new markets to mitigate the impact as much as possible.