Thailand weighs imports of more US goods to cut trade surplus
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Thailand weighs imports of more US goods to cut trade surplus

Government plans to leverage increased imports of US goods amid potential trade tensions

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Cargo ships load and unload goods at Khlong Toei port in Bangkok. (Bangkok Post file photo)
Cargo ships load and unload goods at Khlong Toei port in Bangkok. (Bangkok Post file photo)

Thailand is set to increase imports of ethane and agricultural products from the United States, a government official said, in a bid to prevent damage to its export-driven economy as the Trump administration threatens countries with trade wars.

The government has asked Thai petrochemical companies to significantly step up the purchase of US ethane by at least 1 million tonnes, Pongsarun Assawachaisophon, a deputy secretary-general to Prime Minister Paetongtarn Shinawatra, told Bloomberg News on Tuesday. The market value of 1 million tonnes is about US$200 million.

"We're being proactive and hope that we can leverage this in our talks with the US," Mr Pongsarun said, adding the government is considering efforts to strengthen defence and security relations. "Their great trade deficit with us will likely be negotiated, but they also still need an ally in Southeast Asia." 

Thailand lists the US as its second-largest trading partner and it had a surplus of around $35.4 billion with the North American country in 2024, according to data from the Thai Commerce Ministry. President Donald Trump has railed against several economies that run a surplus with the US, slapping tariffs on rivals and allies alike.

Thai feed mills will also import more soybean meal and other agricultural products to use in their feed mix for cattle, poultry and pigs, Mr Pongsarun said, without specifying the additional import volume.

The current major importers of US ethane are China, India, Canada and Norway, according to the US Energy Information Administration. Ethane is consumed almost exclusively in the petrochemical industry as a feedstock, it said.

Thailand's export-reliant economy could take a heavy hit from US tariffs. The country is dispatching Commerce Minister Pichai Naripthaphan to the US this week for possible meetings with trade officials in a bid to head off any tensions.

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