Thailand Delays Tariff Negotiations Amid U.S. Pressure
Thailand has postponed critical trade talks with the United States after Washington requested revisions to key terms, Prime Minister Paetongtarn Shinawatra announced Tuesday. The delay highlights growing challenges for U.S. efforts to secure agreements with Asian partners ahead of a July deadline for global tariff suspensions. Negotiations, initially scheduled for April 23, are now under review as Thailand assesses potential adjustments to agricultural exports and imports. "We are protecting agricultural interests as much as possible," Paetongtarn stated, emphasizing the need for mutually beneficial outcomes.
Economic Stakes for Thailand
Thailand faces a 36% U.S. tariff on exports unless a deal is reached by July, with rice shipments already dropping 30% in Q1. The U.S. is Thailand's largest export market, accounting for $54.96 billion in trade last year. Finance Minister Pichai Chunhavajira confirmed ongoing working-level discussions but indicated no immediate plans for U.S. visits, underscoring the complexities of bridging a $45.6 billion trade deficit.
Japan Digs In on Trade Defenses
Meanwhile, Japanese Prime Minister Shigeru Ishiba declared Tokyo's refusal to concede fully to U.S. demands, citing national interests. Despite a 2019 bilateral deal that averted auto tariffs, Japan has raised "grave concern" over recent U.S. moves, including a 25% levy on auto imports. Finance Minister Katsunobu Kato's upcoming Washington visit will address currency rates, a contentious issue as the yen dips to a seven-month low against the dollar. Japan's resistance highlights broader regional hesitancy toward U.S. trade strategies under President Donald Trump.
