Bangkok: Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, announced plans to travel to the United States next week for critical negotiations with the United States Trade Representative (USTR) concerning tariffs. The main agenda includes discussing potential tariff reductions and the possibility of extending the current 90-day tariff collection period, which is set to expire on July 9.

According to Thai News Agency, Mr. Poj Aramwattananon, Chairman of the Thai Chamber of Commerce, expressed the private sector's optimism that the United States will reduce import tariffs on Thai products by 10 percent. Such a reduction is anticipated to lower costs for Thai entrepreneurs and provide mutual benefits for both countries involved. The Thai Chamber of Commerce hopes that successful negotiations will lead to an extension of the import tariff collection period.

In addition to the negotiations, Mr. Pichai is also contemplating whether to proceed with the appointment of the new Bank of Thailand (BOT) governor before his trip or defer the decision until his return. Dr. Roong Mallikamas, Deputy Governor for Financial Institutions Stability at BOT, and Mr. Vitai Ratanakorn, President of Government Savings Bank, have been proposed by the BOT Governor Selection Committee for this significant role. The decision is pending cabinet consideration once the selection process requirements are fulfilled.