Commerce Minister Eyes Bilateral Deal to Mitigate US Tariffs

NONTHABURI, July 24 (TNA) - Thailand’s Commerce Minister Suphajee Suthampun said on Friday that the country aims to expedite talks on a reciprocal trade agreement with the United States to mitigate the impact of new U.S. import tariffs.

The U.S. has implemented Section 301 tariffs, imposing a 12.5% levy on imports from Thailand and 37 other nations over forced labor concerns. However, over 2,120 Thai export items—accounting for more than half of Thailand’s export value to the U.S.—have been exempted from the increase.

The new measures took effect on July 24, 2026, replacing previous Section 122 tariffs of 10% which expired the same day.

Suphajee stated that the ministry is also closely monitoring a separate U.S. Section 301 investigation into structural overcapacity involving 16 countries, including Thailand. The U.S. has yet to announce its findings or potential tariff rates for that probe.

To safeguard trade interests, Thailand is pushing to conclude an Agreement on Reciprocal Trade (ART) while preparing domestic support measures and market diversification strategies for local exporters.

Poj Aramwattananont, Chairman of the Thai Chamber of Commerce, assessed that the 12.5% tariff would not significantly harm Thailand’s export competitiveness immediately, as rival exporters from over 60 economies face similar U.S. measures. He urged the government to enforce relevant labor regulations and noted that the outcome of the overcapacity probe would depend heavily on upcoming bilateral talks to prevent further penalties. -819 (TNA)