Bangkok: Finance Minister Pichai recommends waiting for good news about Trump's announcement of tax collection tonight.
According to Thai News Agency, Deputy Prime Minister and Finance Minister Pichai Chunhavajira stated that the wait is only a few hours away, as many parties are anxiously awaiting the new US trade tariffs imposed by Trump's reciprocal tariff policy. The Thailand team has worked diligently and thoroughly on all aspects, including data, trade statistics, international law, and the impact on manufacturing, exports, employment, and overall economic stability.
He confirmed that Thailand's proposal is beneficial to both parties and wished to use the term "WIN-WIN" for both countries, whether it be in terms of tariff reductions, similar to FTAs with many countries around the world, which is not a new concept. He also emphasized that importing goods into the country must be necessary and require domestic production, with insufficient raw materials available for production, necessitating imports. He also emphasized plans for additional investment in the United States, with several clear approaches already discussed. He also highlighted the industries in which the United States wishes to expand its investment in Thailand. Therefore, he discussed non-tariff barriers jointly.
Thailand is seizing this opportunity to address redundant and delayed regulations to facilitate foreign investment. Therefore, Thailand must address these challenges to remain competitive globally. We believe this will facilitate US decision-making. On the other hand, citizens and SMEs must prepare for US tax regulations. From now on, we accept that no country will be immune from Trump's tariffs, as global trade rules have changed significantly. When impacted, we must reassess how Thailand must adapt and manage costs to remain competitive.
"Once the US informs Thailand of the results of its tariffs tonight, it will be presented to the Cabinet and then to the House of Representatives for acknowledgement. In entering into an international agreement with the US, the government must find ways to encourage small SMEs to adapt. For exporters, this has been postponed for now, pending a clearer understanding of the US tariff rates. We believe these rates will be competitive with those of neighboring countries," said Mr. Pichai.
Mr. Lawaron Sangsanit, Permanent Secretary of the Ministry of Finance, stated that all aspects of the proposal have been discussed and discussed. He is just waiting for the announcement of the US tariffs tonight. He hopes this will be good news and bring smiles and joy to the Thai people.