Bangkok: The sub-committee is aiming to allocate 40 billion baht from local administrative organizations to address the impact of US import tariffs. This budgetary proposal is set to be presented to the economic stimulus board tomorrow.

According to Thai News Agency, Mr. Paopum Rojanasakul, Deputy Minister of Finance, noted that the Economic Stimulus Screening Subcommittee, led by Mr. Pichai Chunhavajira, Deputy Prime Minister and Minister of Finance, assessed the budget of 42 billion baht from local administrative organizations. This review occurred during the period when the Bhumjaithai Party oversaw the Ministry of Interior. Due to inaccuracies in the budget figures, a reconsideration was necessary to create measures to mitigate the impact of US taxes. These measures aim to support farmers, domestic SMEs, exporters, and human capital development in various sectors.

Mr. Paopum stated, "Considering the use of this remaining budget to address both direct and indirect impacts, the budget-receiving agencies must finalize their budget commitments by September 30. If a conclusion is reached, it will be presented to the large economic stimulus board led by the prime minister for consideration tomorrow. This will allow a significant economic stimulus to be introduced into the system towards the end of the year and the beginning of next year."

Following the US announcement of tariff rates under the Reciprocal tax measure, the Philippines faced a 19 percent charge after market opening, while Japan faced a 15 percent charge after allowing rice imports. Thailand, however, has not yet concluded negotiations. Team Thailand, chaired by the Deputy Prime Minister and Minister of Finance, is monitoring the tariff negotiations. The United States has requested Thailand to review its initial proposal for greater market access. Mr. Pichai expressed hope that Thailand would face general tariffs similar to those in the region. Currently, among the 5 ASEAN countries, only Thailand and Malaysia still need to negotiate further.