BANGKOK- Thailand’s government supports increased US imports of necessary goods as a way to reduce the country’s trade surplus with the United States, the finance minister said on Monday.
Authorities will also talk with US business people in Thailand to find ways to ease any impacts of US President Donald Trump’s trade policies, Pichai Chunhavajira told reporters.
“This will help create understanding with the United States that most Thai exports to the country are investments by US companies based in Thailand,” he said.
Thailand had a trade surplus last year of $35.4 billion with the United States, according to the Thai commerce ministry. The United States was Thailand’s largest export market last year, accounting for 18.3 percent of total shipments, or $54.96 billion.
The commerce ministry has cited uncertainty over US trade policies as a challenge to increasing Thai exports.
Trump has ordered US federal agencies to complete comprehensive reviews of a range of trade issues by April 1, including analyses of persistent US trade deficits.
He has imposed tariffs on China and signaled the 27-nation European Union would be his next target, but suspended his threat of 25 percent tariffs on Mexico and Canada for 30 days.
