In a move to balance trade relations, Thailand is looking to cut down its trade surplus with the United States to $20 billion. The plan? More U.S. products—specifically agricultural goods like corn, soybeans, and ethylene- are being imported. This initiative aims to address trade disparities while aligning with evolving U.S. trade policies.
Currently, the U.S. is Thailand’s largest export market, making up 18.3% of total shipments valued at $54.96 billion in 2023. Last year, the trade surplus with the U.S. stood at $35.4 billion, while Washington reported it at $45.6 billion.
The Thai government, led by Passakorn Chairat, head of the industrial economics office, is preparing a strategic plan to mitigate U.S. tariffs and boost imports to strike a better balance. While no specific timeframe has been set, officials are keen to adapt to the changing global trade landscape.
