That’s quicker than the pledge to wipe the gap in a decade under an earlier proposal submitted by Thailand.
Thailand is making a last-ditch effort to avert a punitive 36% export levy threatened by the Trump administration with offers of greater market access for US farm and industrial goods, along with increased purchases of energy and Boeing jets.
Bangkok’s latest proposal aims to boost bilateral trade volume and reduce Thailand’s US$46 billion ($58.6 billion) trade surplus with the US by 70% within five years, reaching balance in seven to eight years, Finance Minister Pichai Chunhavajira told Bloomberg News in an interview late Sunday.
