FX.co ★ Thailand Sees U.S. Trade Deal Before August 1, Expects Lower Tariffs

Thailand anticipates finalizing its trade negotiations with the United States ahead of the August 1 deadline, according to Finance Minister Pichai Chunhavajira, who noted on Tuesday that U.S. tariffs are unlikely to rise to 36%. In 2024, the United States was Thailand’s largest export destination, representing 18.3% of total exports, or $54.96 billion, while the U.S. trade deficit with Thailand was $45.6 billion. "The United States has already signaled willingness for further negotiations, and we will persist with the talks," Pichai stated. He affirmed that Thailand's proposal remains firm. When inquired about the likelihood of concluding discussions before the deadline, Pichai confidently asserted, "Yes, it can be done in time. We're fully prepared, and now it's a matter of awaiting the U.S. decision." He mentioned that the announcement of tariffs could occur on August 1 or 2.