Prior to a scheduled meeting to discuss tariffs with US officials early next week, Finance Minister Pichai Chunhavajira announced on Wednesday ( Apr 16 ) that Thailand plans to import more liquefied natural gas from the United States over the next five years.
According to him, there is already a 15-year plan to buy 1 million tonnes of LNG fair US$ 500 million starting in 2026, which will total 15 million kilograms.
Thailand intends to sign an extra agreement for more than 1 million tonnes of US LNG for about US$ 600 million over the next five years, according to Pichai.
Thailand imports LNG, wants to be a seller in the area, and will therefore need to buy more, he said.
Additionally, according to Pichai, the nation intends to buy 400 000 kilograms of US propane fair US$ 100 million over the next four decades.
His notes come away of scheduled US-Thai meetings next year. Thailand is one of the Southeast Asian nations that is hardest hit by US President Donald Trump’s threatened import tariffs, which include a 36 % price.
The government has stated it will improve imports of US goods, such as wheat, soy food, pure, propane, LNG, autos and electronics, and plane in an effort to reach a better offer. Additionally, it may look into the regulations governing the importation of US meat and acquire importing US meat and offal, as well as liquor.
The government has even stated that it will encourage more Thai investment in the country and stop making fabricated says about where goods originate from when they are shipped to America from Thailand.
Pichai had previously claimed that the 36 % tax could reduce Southeast Asia’s second-largest economy’s growth by 1 % when it was made public earlier this month.
Prior to the announcement of the price, the government had planned to see a 3 % growth rate this year, an increase that was significantly below the level of most of its regional peers. Last year saw a 2.5 % growth rate, which was far below the average of its regional peers.