Latest news with #PichaiChunhavajira
Reuters
2 days ago
- Business
- Reuters
Thailand minister to propose $3.4 bln stimulus projects to cabinet next week
BANGKOK, June 18 (Reuters) - Thailand's finance minister said on Wednesday he would propose projects worth 110 billion baht ($3.4 billion) to the cabinet next week, as the government looks to boost the economy. The projects are expected to boost GDP growth by 0.4 to 0.5 percentage points, Pichai Chunhavajira told a press conference. ($1 = 32.60 baht)
Free Malaysia Today
3 days ago
- Business
- Free Malaysia Today
Thailand to begin trade negotiations with US this week
America's goods trade deficit with Thailand hit US$45.6 billion in 2024. (EPA Images pic) BANGKOK : Thailand will submit a formal trade proposal to the US this week, the kingdom's finance minister said today, as it seeks to avoid Donald Trump's threatened tariffs. Thailand faces a 36% levy on key exports to America under the US president's 'Liberation Day' measures and remains one of the few Southeast Asian nations without a bilateral deal with Washington. After today's cabinet meeting, finance minister Pichai Chunhavajira told reporters, 'We will submit the details by this week'. He added that the first round will be held virtually, followed by face-to-face meetings. Thailand's finance ministry said in May that the proposal aimed to reduce the trade imbalance and improve access for US exports to the Thai market. America's goods trade deficit with Thailand hit US$45.6 billion in 2024, up 11.7% from the year before, according to the data from the US trade representative. The Thai government last month cut its 2025 economic growth forecast to 2.3%-3.3%, from 3.2%-4.2%, citing uncertainty over 'reciprocal tariffs'. In April, authorities arrested American scholar Paul Chambers for alleged royal defamation, prompting speculation that politics had delayed talks, though the case was later dropped.
Bloomberg
3 days ago
- Business
- Bloomberg
Thailand Kicks Off Tariff Negotiations With US After Delays
Thailand officially started trade negotiations with the US and plans to submit a final proposal to Washington within the week, aiming for a swift resolution to the tariff debacle after a string of delays. The working teams of both countries started trade negotiations virtually, Finance Minister Pichai Chunhavajira told reporters in Bangkok on Tuesday. 'After the talks, we will adjust our proposal and submit it officially within this week,' he said.
Yahoo
3 days ago
- Business
- Yahoo
Thailand to submit formal trade proposal to U.S. this week, finance minister says
BANGKOK (Reuters) -Thailand's formal trade proposal will be submitted to the United States this week, with the first round of discussions set to take place online, the country's finance minister said on Tuesday, as it seeks to head off the threat of U.S. tariffs. Thailand faces a 36% U.S. tariff on its exports if a reduction can't be negotiated before a moratorium expires in July. Formal trade negotiations with the United States will commence this week, starting with technical discussions at the official level, Pichai Chunhavajira told reporters. "The latest formal proposal will be submitted following these discussions this week. After that, the first round of discussions with the U.S. will be conducted online," he said, without giving a date. Any potential in-person meetings would be considered after the initial talks, Pichai said. The formal proposal to be submitted would be under the main criteria previously announced, he added. Last month, Pichai said the country had submitted a proposal to Washington that aims to address the trade imbalance, and includes measures to enhance market access for U.S. exports and tackle transshipment violations, as well as Thai investment that would create U.S. jobs.
Reuters
3 days ago
- Business
- Reuters
Thailand to submit formal trade proposal to U.S. this week, finance minister says
BANGKOK, June 17 (Reuters) - Thailand's formal trade proposal will be submitted to the United States this week, with the first round of discussions set to take place online, the country's finance minister said on Tuesday, as it seeks to head off the threat of U.S. tariffs. Thailand faces a 36% U.S. tariff on its exports if a reduction can't be negotiated before a moratorium expires in July. Formal trade negotiations with the United States will commence this week, starting with technical discussions at the official level, Pichai Chunhavajira told reporters. "The latest formal proposal will be submitted following these discussions this week. After that, the first round of discussions with the U.S. will be conducted online," he said, without giving a date. Any potential in-person meetings would be considered after the initial talks, Pichai said. The formal proposal to be submitted would be under the main criteria previously announced, he added. Last month, Pichai said the country had submitted a proposal to Washington that aims to address the trade imbalance, and includes measures to enhance market access for U.S. exports and tackle transshipment violations, as well as Thai investment that would create U.S. jobs.
