Thailand is hoping it will not face tariff measures of the United States and will do everything to make sure the country is not a target, Commerce Minister Pichai Naripthaphan said on Friday, amid concerns that the country's trade surplus with Washington could become an issue.
The Southeast Asian country has a plan for negotiations and is ready to adjust to US requests to ensure a good outcome, Mr Pichai told reporters, adding he would return to the United States for more discussions with US officials.
"Don't be too alarmed," he said. "We already have a plan, but we can't reveal it yet because if we reveal it too much, it will be a problem in negotiations."
Asked whether Thailand could be subject to US President Donald Trump's plan for reciprocal tariffs, Mr Pichai said "if we do anything wrong, we can fix it."
Mr Pichai said Thailand had already prepared plans before he had travelled to the United States earlier this month. He said the trip "was quite fruitful".
The minister said the two countries had a long and good relationship, noting that US investors are the only foreigners permitted to hold 100% stakes in some Thai businesses.
"We have had this agreement for a long time, but people don't know about it... everyone wants it, but America is the only one to have it," he said, although he added some sectors such as banking and telecommunications were excluded from the arrangement.
American supermodel Naomi Campbell, centre left, meets with Prime Minister Paetongtarn Shinawatra at Government House in Bangkok on Monday. (Photo: Chanat Katanyu)
On Monday, an official said Prime Minister Paetongtarn Shinawatra had ordered a study on the potential impact of US trade policy on exports, which are a key economic driver.
Commerce Ministry data shows Thailand had a $35.4 billion trade surplus with the United States last year. The United States was Thailand's largest export market in 2024, accounting for 18.3% of total shipments, or $54.96 billion.
One way Thailand has said it plans to try to narrow its trade gap with the United States is by importing 1 million tonnes of ethane in the second quarter of this year.
Trump last month signed a broad trade memorandum ordering federal agencies to complete comprehensive reviews of a range of trade issues by April 1, including analyses of persistent US trade deficits.
US President Donald Trump sits in the Oval Office of the White House in Washington, DC, on Thursday. (Photo: Reuters)
According to trade and legal experts, the Trump administration is likely to dust off a 1930 trade law, largely forgotten for decades, to back his new reciprocal tariffs that will match other countries' higher import taxes, trade and legal experts say.
Thailand is among the countries expected to take a hit because of trade surplus with the US.