Thailand Hails US Tariff Deal As Win-win For Trade Stability
BANGKOK, Aug 1 (Bernama) -- The new 19 per cent tariff the United States (US) imposed on Thai goods, effective today, represents a win-win outcome to preserve Thailand’s export base and ensures long-term economic stability.
Government spokesperson Jirayu Huangsap said the Thai government had successfully negotiated and concluded a import tariff agreement with the US.
“This marks another significant achievement and reflects a balanced approach that safeguards the Thailand’s export base and supports sustainable economic growth,” he said in a statement on the Thai government’s website on Friday.
He said the new rate is significantly lower than the previous 36 per cent and is comparable to those applied to Vietnam, the Philippines and Japan.
“This revised rate helps maintain Thailand’s competitiveness within ASEAN, where several countries had already secured similar agreements with the US,” he added.
Jirayu said the outcome underscores Thailand’s capacity to assert itself on the global trade stage amid the ongoing shifts in international trade policy.
According to a presidential order issued by the White House on July 31, Thailand, along with four other ASEAN member states – Malaysia, Cambodia, the Philippines, and Indonesia – will be subject to the same 19 per cent tariff, effective Aug 1.
The new rate replaces the 36 per cent tariff announced in April, bringing Thailand’s tariff treatment more in line with regional economies.
The US was Thailand’s largest export market for goods last year, accounting for over 18 per cent of the country’s total shipments, estimated at US$54.96 billion.
Thailand’s top exports to the US in 2024 included computers, teleprinters and telephone sets and rubber products. Its main US imports were crude oil, machinery and parts, and chemicals.
-- BERNAMA