Pichai set to discuss trade balance, win-win strategies with U.S. officials this month

Deputy Prime Minister and Finance Minister Pichai Chunhavajira on Friday announced plans to visit the United States this month to discuss key trade issues and promote economic cooperation. The talks will focus on finding win-win solutions to address the U.S.-Thailand trade imbalance, with strong collaboration between the government and the private sector.

Pichai stated that he and his team will seek to meet with individuals close to U.S. President Donald Trump to demonstrate Thailand’s readiness to be a strategic economic partner, as previously expressed by the Thai Prime Minister. Following the high-level meetings, further technical discussions will be held with the Office of the United States Trade Representative (USTR).

The minister pointed out that one of the main U.S. concerns is the issue of “trade circumvention”, where goods from third countries are re-exported from Thailand to avoid tariffs. He emphasized that the Thai government is committed to ensuring that all exported products genuinely originate in Thailand, meeting international production standards. Measures will be taken to tighten controls and prevent circumvention.

“We have coordinated with the Ministry of Industry to address this issue thoroughly. In the past, enforcement may have been too lenient. This time, we aim to restore confidence by ensuring strict adherence to quality standards and traceability,” Pichai said.

Meanwhile, the Board of Investment (BOI) will revise its investment incentive strategies in response to the global shift from globalization to geo-economic fragmentation and rising trade protectionism, which are leading to global supply chain realignments.

The Finance Ministry also revealed five key strategies in U.S. trade talks, as follows:

1. Boost imports from the U.S. to balance trade—especially agricultural raw materials such as corn and soybeans used in animal feed production. The government aims to double Thailand’s global pet food market share from 3% to 6% in the next 5–7 years, equivalent to a 12% annual growth. Import allocation will be managed fairly to avoid impacting domestic farmers.

In addition, Thailand is considering increasing natural gas imports from the U.S. to meet domestic demand, possibly through joint ventures in U.S. gas fields to secure competitive pricing and reduce transportation costs.

2. Reduce or waive tariffs on U.S. goods, aligning with tariffs applied to imports from other countries.

3. Tighten controls to prevent trade circumvention, ensuring all goods exported to the U.S. meet origin certification and quality standards.

4. Address non-tariff barriers (NTBs) by streamlining trade procedures to make them faster and fairer.

5. Encourage Thai private sector investment in the U.S., particularly in sectors like natural gas, where Thailand sees long-term strategic interest.