BANGKOK, March 13 — A Thai business group urged Prime Minister Paetongtarn Shinawatra on Thursday to negotiate with the United States (US) and consider lowering import taxes on US goods, as the government met with the private sector to discuss US trade policy.
The meeting comes ahead of a deadline US President Donald Trump has set next month for federal agencies to complete comprehensive reviews of a range of trade issues, including analyses of persistent US trade deficits.
Thailand's Joint Standing Committee on Commerce, Industry, and Banking, a private sector group, also proposed importing more US goods to reduce the trade gap with Washington.
"The private sector is satisfied with the discussion," Thai Chamber of Commerce head Sanan Angubolkul told the press, adding that Thailand would not be at a disadvantage in negotiations with the US because businesses had shared information with the government.
"Opening the market up to more imports was necessary ... but negotiations have to be held for the mutual benefit of both countries," he said.
Last week, the Thai Chamber of Commerce urged the government to take action over US trade policy uncertainty and proposed setting up a "war room" to head off any threat of tariffs by the Trump administration.
The US was Thailand's largest export market in 2024, according to government figures, accounting for 18.3 per cent of total shipments, or US$54.96 billion (RM243.7 billion).
In Asia, Vietnam, Taiwan, and Thailand are those most exposed to the possibility of increased US tariffs due to their high export-to-GDP ratios with the US, according to a Reuters analysis.
Paetongtarn said she had assured the private sector the government had a strategy on the issue of US trade.
"The government is not idle and is closely monitoring the situation," she said in a social media post after the meeting, adding that a government committee will drive policies that will benefit both countries.
— Reuters
