Thai exporters urge government to speed up US trade talks
The private sector has called on the government to expedite trade negotiations with US President Donald Trump and to incorporate private sector input into these discussions. The Thai National Shippers’ Council (TNSC) highlighted concerns that delays could adversely impact exports.
Chaichan Charoensuk, the TNSC chairman, noted the lack of significant progress in preparing for potential US-imposed measures aimed at reducing its trade deficit with Thailand. He warned that without a defined negotiation strategy or a cohesive trade policy, the government might struggle to address issues promptly, affecting exports to the US.
Private organisations, including the TNSC, are advocating for a joint committee comprising both government and private sector representatives to address these challenges. Chaichan emphasised that companies engaged in US trade possess detailed information crucial for planning an effective negotiation strategy. Despite repeated requests, the private sector has not been invited to participate in discussions.
Chaichan expressed concerns over the slow pace of governmental preparation and the absence of a clear negotiation strategy, which could negatively impact exports. In 2024, exports to the US were valued at nearly US$55 billion, representing 18% of total shipments, and this figure could decrease without a strategy. He indicated that effects might become evident in the first half of this year.
Reports suggest that Thailand may increase imports of US agricultural products, such as animal feed corn, soybeans, and crude oil, as part of negotiations. Chaichan advised the government to consider the long-term impact of increased agricultural imports, which could harm the local farming sector, against the benefit of reducing Thailand’s trade surplus with the US.
In 2024, Thailand’s trade surplus with the US was the 11th largest worldwide, at over US$35 billion or 1.2 trillion baht. Chaichan questioned the extent of imports required to mitigate the US trade deficit, reported Bangkok Post.
Beyond the US trade surplus, Chaichan pointed out the need for Thailand to address its trade deficit with China, which reached 1.6 trillion baht (US$47 billion) in 2024. He urged the government to act swiftly, as imports from China are anticipated to rise due to US tariffs on Chinese goods.
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