Julapun Amornvivat, Thailand’s assistant finance minister, stated that even though the taxes were higher than expected, the government was not surprised to be hit.
In a video interview that was posted online, he said,” We have to deal with understanding, no hostile discuss, but we have to talk about products they feel are cruel and we have to see if we can adjust.”
He claimed that finance department officials did meet to discuss ways to lessen the immediate effects and create guidelines for upcoming negotiations.
In an X article on Thursday, Paetongtarn stated,” The goal is to build a business compromise plan that is large enough to incentivize the US to participate in negotiations with Thailand, ensuring little disruption to farmers, consumers, and businesses.”
She stated that the Thai government is willing to talk with Washington about adjusting the business balance as soon as possible.
But economists were skeptical.
The discussions between Thailand and each other may fail because each state is affected by the taxes, according to Jitipol Puksamatanan, Head of Global Investment Strategy at Finansia Syrus Securities, according to AFP.
He suggested that Thailand does work harder to increase its exports to nations like China.
In a presentation word, CGS International, an investment firm, predicted that Thailand’s GDP would be wiped out by between 0.9 and 1.2 per share in 2025.
On Thursday, Paetongtarn will meet with her American rival after her father, Thaksin Shinawatra, who was in office until the late 1990s ‘ Asian financial crisis.
The two did discuss topics prior to a summit of the BIMSTEC group, which is made up of mostly South Asian nations plus Thailand and Myanmar, whose coup chief is making a eminently rare trip to the United States to participate.