Bangkok: The public and private sectors in Thailand express confidence that upcoming tariff negotiations with the United States will yield positive results. They are optimistic as exports in May showed an upward trend, being the last month before the US tariffs were set to take effect.
According to Thai News Agency, Mr. Poj Aramwattananon, Chairman of the Thai Chamber of Commerce and Board of Trade of Thailand, indicated that based on the assessment of export figures from 2015, May is expected to maintain a positive export record. This optimism is due to the month being the final period before the implementation of US tariff measures. Looking forward to June, exports to other countries are anticipated to remain strong, but there might be an impact on exports to the US due to delayed tariff negotiations. However, it is expected that early June will see Thailand successfully negotiating trade tariffs with the US, resulting in favorable outcomes. Additionally, if negotiations between China and the US are not successful, it may inadvertently boost investment in Thailand, enhancing its export capabilities. Overall, exports to countries other than the US are expected to continue expanding, contingent on the tariff negotiations.
The Ministry of Commerce reported that Thai export figures for April 2025 reached a trade value of 25,625.1 million US dollars, marking a 10.2% increase compared to the same month in the previous year. This contributed to the first four months of 2025 (January-April) achieving a value of 107,157.4 million US dollars, reflecting a 14.0% increase compared to the corresponding period of the previous year.
Mr. Wichit Arayapisit, an investment strategist at Liberator Securities, noted that the Thai stock market is keenly observing the potential telephone conversation between Donald Trump, President of the United States, and Mr. Xi Jinping, President of the People’s Republic of China. Positive negotiation outcomes could significantly alleviate trade war tensions. However, President Trump’s announcement of imposing taxes on trading in the US stock market is seen as a strategic move in trade negotiations with other countries, though it has negatively impacted the US stock market and contributed to the weakening of the dollar.
Mr. Pichai Naripthaphan, Minister of Commerce, who attended the annual meeting of ministers of the member countries of the Organization for Economic Co-operation and Development (OECD) on June 3-4, 2025, in Paris, France, had discussions with Mr. Jamieson Greer, US Trade Representative (USTR). Mr. Pichai expressed Thailand’s readiness to negotiate trade tariff measures with the United States. The US Trade Representative acknowledged the continuous policy proposals from Thailand aimed at strengthening economic partnerships and encouraged ongoing updates to the negotiations. Both parties are confident of arranging a negotiation meeting soon.
Mr. Pichai is optimistic that the negotiations will satisfy the United States and enable Thailand to reach a swift conclusion. In the meantime, continuous coordination between both sides is expected to expedite the trade tariff negotiations with the United States as soon as possible.