Bangkok: Pichai Chunhavajira, the Deputy Prime Minister and Minister of Finance, has clarified the reasons for delaying negotiations with the United States concerning tariffs, attributing the decision to the rapidly evolving global trade landscape. He emphasized the importance of not rushing into discussions without thorough preparation and understanding of the current situation.
According to Thai News Agency, Mr. Pichai explained that over the past ten days, there have been significant changes affecting not just Thailand but other countries as well. "What seemed clear today may not be as clear tomorrow," he noted, stressing the need for patience. The working group has decided to postpone the discussions to ensure clarity and readiness before engaging with the United States.
Mr. Pichai highlighted the importance of observing the experiences of other countries in similar negotiations. "We aim not to be faster or slower than others," he stated, emphasizing the need for a balanced approach. He acknowledged the anxiety surrounding the issue but insisted that a careful strategy is essential for successful negotiations.
He further explained that while negotiations have been postponed, operational-level discussions continue, using the Thai Embassy in the United States as a strategic base. The embassy hosts officials from various departments who are working to ensure mutual understanding of tariff barriers and complete data preparation for high-level talks.
Mr. Pichai also addressed the broader impacts of global trade changes, which necessitate adjustments by all countries. He outlined a two-pronged approach: reviewing for clarity and preparing for parallel assistance, recovery, and reform. This involves coordinating with the National Economic and Social Development Board and the Bank of Thailand to develop strategies for economic resilience and reforming export regulations to facilitate transparent and mutually beneficial trade.
One of the anticipated concerns from the US side is currency interference, as the US aims to increase exports without foreign currency manipulation. Mr. Pichai acknowledged this issue and expressed a commitment to addressing it in future discussions.
Finally, Mr. Pichai stated that a specific timeline for the negotiations has not been set, as it depends on changes in US policy and the overall global trade environment. He plans to leverage his personal experience in handling these complex negotiations.