In a dramatic twist amid escalating trade tensions, Thailand has postponed its tariff negotiations with the U.S. after Washington requested a review of key issues. Thai Prime Minister Paetongtarn Shinawatra explained that Bangkok is carefully re-examining its tariffs and agricultural policies to protect local interests, especially as the nation braces for potential 36% tariffs if no agreement is reached by July.
Originally set for April 23, the talks are now on hold while experts and academics are consulted to ensure any adjustments are both fair and mutually beneficial. With the U.S. being Thailand's largest export market—accounting for 18.3% of total shipments—the outcome of these negotiations is critical for the region's economy.
Meanwhile, on a related front, Japan is making headlines. Japanese Prime Minister Shigeru Ishiba made clear in parliament that Japan cannot simply concede to all U.S. demands, emphasizing that safeguarding national interests is paramount. Despite a 2019 trade deal with the U.S. that eased certain tariffs, Tokyo remains cautious, particularly as new automobile tariffs stir debate.
Top negotiators from Japan are actively engaging in bilateral discussions with the U.S. on non-tariff barriers and currency rates, even as market watchers note that the dollar recently hit a seven-month low against the yen. This blend of postponed talks and steadfast policy in both Thailand and Japan highlights the complexities of international trade in today's fast-paced global market. 🚀🌏
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Thailand delays tariff negotiations with U.S. as Japan won't concede
cgtn.com
