Washington: "Pichai" is confident that the new US tax rate will be lower than 36%, expecting results soon. Pichai revealed the results of the second round of discussions with the USTR were positive, confident that the tariff rate would be lower than 36%, which would be similar to other countries in the region. The US is expected to announce the results soon. He emphasized that Thailand's proposals have been thoroughly scrutinized, and that it has prepared a backup plan to handle all situations. It is ready to move forward to expand its export markets around the world.

According to Thai News Agency, Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, revealed after the second round of formal discussions between the Thai delegation and the United States Trade Representative (USTR) via video conference on the evening of July 17 that the discussion atmosphere was good. The Thai side is confident that the import tariff rate for Thai products that the United States is considering will be lower than the 36% rate previously set, and believes that it will be adjusted to a level close to other countries in the region in order to create fair competition.

For the proposal that Thailand submitted to the United States this round, it is still within the framework of 5 main issues, especially the import tax, which has been adjusted in detail according to suggestions from many sectors within the country, including the business sector, the agricultural sector, and government agencies. The Thai side has conducted a "Stress Test" or a deep test of readiness and impact to make the proposal as comprehensive and to the point as possible.

Mr. Pichai said that this latest round of discussions is not a new beginning, but an update on progress at the policy level to prepare for the US side's decision by the August deadline. The overall atmosphere is considered positive and there is more confidence from both sides.

Although the negotiations have not ended, Thailand has always prepared a backup plan and sees this challenge as an important opportunity to 'revamp the Thai economy' in terms of production, investment, and competitiveness, especially expanding export markets to new countries. Currently, the US is Thailand's number 1 export market, accounting for approximately 18% of the total export value, while there is another 82% of the world market that Thailand can expand. Therefore, even if exports to the US are partially affected, Thailand can compensate by slightly increasing the proportion of exports to other countries.

There were also discussions on preventing origin fraud, modernizing the inspection system, and developing digital tools such as an import-export license system to build more confidence in Thai standards, as well as signaling that Thailand is ready to be a transparent trading partner in the long term.

The Thailand team in Washington will continue to closely monitor the situation and continue to coordinate with the US side. The Thai side has been informed by the USTR that the results of this round of discussions will be submitted to President Donald Trump for consideration. If there is any progress, the US government will inform Thailand. It is expected that there will be official clarity soon.