Thailand seeks to strengthen US trade ties by cutting tariffs. Is it aiming to grow as a key aluminium scrap hub amid China’s retreat?
While many countries are retaliating against the United States with counter-tariffs, Thailand is taking a different approach - considering reducing existing taxes on American goods. But why? The goal is to boost imports from the US and, in return, secure a favourable trade deal from the Trump administration.
Thailand is among the countries hit with a steep tariff rate of 36 percent—significantly higher than expected. Despite this, Deputy Prime Minister Pichai Chunhavajira stated the Thai government was in no rush to initiate talks with the US. Rather, they chose to wait until their proposals were prepared. Mr Pichai will now take the proposals forward for negotiations.
The Thai government aims to establish a balanced trade relation with the United States. Currently, the country imports far more from the US than it exports. According to the USGS data, Thailand exported 35,200 tonnes of aluminium to the US and imported 365,000 tonnes. Both export and import volumes rose 5.4 per cent and 59 per cent Y-o-Y from 33,400 tonnes and 229,000 tonnes.
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