Thailand US tariff deal agreed in principle, FM says

A Thailand US tariff deal has been agreed in principle, Foreign Minister Sihasak Phuangketkeow said on Wednesday, November 11, with both sides believed to be satisfied with the outcome. Many details still need to be settled, and the agreement will have to go before Parliament, Khaosod English reported.

Sihasak, who is also a deputy prime minister, made the comments to reporters at Government House in Bangkok. He was speaking about the trade talks with Washington and the official visit to Thailand by Chinese Premier Li Qiang, which is scheduled for Friday, November 13.

"The negotiations are finished," the minister said when asked whether the talks had been completed. He added that the agreement contained many details and would need to be submitted to lawmakers.

What we know about the Thailand US tariff agreement

So far, the government has confirmed only the broad outline. No figures on tariff rates or the list of goods covered were given in the report.

• Agreement has been reached on the main principles of the deal
• Both governments appear satisfied with the broad terms
• Numerous details still have to be worked out
• The agreement must be considered by Parliament
• An official document confirming the end of talks may be released

Sihasak said the trade negotiations were being led by Deputy Prime Minister and Commerce Minister Suphajee Suthumpun. He also said the subject could come up at the upcoming ASEAN and APEC meetings.

For Thai exporters, the main question is what the final terms will mean for the rates their goods face in the United States, one of the country's most important markets. Until the full text is published, businesses will have to wait for those answers.

Why the deal matters to Thai business

Tariffs have weighed on several parts of the Thai economy this year. Our earlier coverage showed how Trump tariffs hit the Thai housing market, as uncertainty made buyers and developers more cautious.

The talks have also been sensitive for farmers. During the negotiations, Thai pig farmers opposed US pork imports, fearing that market access granted to American producers could hurt local livestock prices.

Shoppers have their own trade issues to watch as well. Our report on new Thailand import duties on online orders explains the higher levies now facing parcels bought from overseas sellers.

Because the agreement still has to go through Parliament, the precise impact on any single industry is not yet clear. Sectors that ship heavily to the US, from electronics to food products, will be watching the details closely.

China visit puts investment in focus

The minister's comments came just two days before Premier Li arrives. Sihasak said Thailand hoped to deepen political and economic ties with China, a key trading partner and a major export market.

He noted that Chinese investment in Thailand had continued to rise. A major priority of the talks, he said, would be to upgrade economic cooperation, especially by attracting Chinese investment in emerging industries such as artificial intelligence and electric vehicles.

Thailand, however, wants Chinese companies to do more than set up assembly lines. "We want them to develop technology here and transfer knowledge to Thai people," Sihasak said, stressing that the government was seeking higher-quality investment that builds domestic skills and the Thai workforce.

Tourist safety will also be on the agenda. Sihasak acknowledged Chinese concerns about visitors being deceived or lured into fraudulent activities, and said both countries needed clearer communication and closer cooperation. He added that Thailand hopes to work with China to identify people involved in scams and to fight technology-related crime, which he said would help restore confidence among Chinese tourists.

The next steps are the release of an official document confirming the end of negotiations and the submission of the agreement to Parliament. Until then, the specific tariff rates and conditions remain unknown.

Phuket Times will report the details of the agreement once they are made public.

The original report was published by Khaosod English.

Image: Government House in Bangkok, where the foreign minister spoke to reporters about the Thailand US tariff agreement. Photo by Sodacan via Wikimedia Commons, CC BY-SA 3.0.