Bangkok: “Siriphong” slams “Pichai’s” negotiation team for not doing enough homework, very disappointed, what kind of negotiations resulted in receiving an unfriendly response letter, suggests 4 approaches to expedite the process to withstand the impact Mr. Siripong Angkasakulkiat, deputy leader of the Bhumjaithai Party, expressed his dissatisfaction regarding a letter from President Donald Trump, which informed Thailand about a new 36% tax rate. He pointed out that the Thai Ministry of Finance’s negotiation team lacked preparation and negotiation skills. Although the situation might be better than in Laos and Myanmar, Thailand still struggles to compete effectively with Vietnam.
According to Thai News Agency, Mr. Siripong emphasized that the tax rate, which differentiates between industries and transit to other countries with higher rates, signifies a negotiation failure. He noted that the letter, despite its seemingly friendly language, implicitly communicated a withdrawal of opportunities and coercion. Mr. Siripong questioned the Thai delegation’s preparation and negotiation tactics, expressing disappointment in Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, who led the negotiation team.
Mr. Siripong proposed four urgent strategies for the government: 1. Study and quickly implement successful negotiation strategies from other countries, avoiding last-minute proposals. 2. Intensify efforts to find both direct and indirect negotiation approaches, showing stronger determination in talks with the US government. 3. Reevaluate the roles of the Ministry of Finance and the Ministry of Commerce in supporting the private sector, including financial support and policy stability. 4. Consider adjusting the government investment plan if negotiations do not yield favorable outcomes, ensuring businesses are not overburdened by increased tax targets.
He concluded by addressing the Treasury and the Ministry of Commerce, highlighting existing economic challenges such as crop prices and SME struggles. Mr. Siripong warned that if the government’s policies remain disorganized, mismanagement could exacerbate economic downturns, with President Trump’s Reciprocal Tariff potentially being cited as a future excuse.