Thailand Clarifies Tariff Proposal Amid U.S. Negotiations

Thailand's Finance Minister Pichai has denied reports of an 18% tariff rate, clarifying that the figure was part of a Bank of Thailand scenario test rather than a finalized negotiation outcome. The statement, issued via social media platform X, aims to quell speculation as technical talks between the two nations progress.

Permanent Secretary for Commerce Wuttikrai Leeviraphan confirmed Thailand submitted an official proposal on June 20, which could potentially reduce tariffs to 10% under President Trump's reciprocal trade framework. The proposal comes ahead of a July 8 deadline, after which non-compliant nations face possible duty increases.

The White House has signaled flexibility, with Press Secretary Karoline Leavitt noting President TRUMP may extend deadlines or negotiate bilateral agreements at his discretion. This approach allows the administration to adjust trade policies based on perceived benefits to U.S. workers.