The Association of Southeast Asian Nations (Asean) has agreed to work together to increase its members’ bargaining power in dealing with the United States’ tariff hikes, Prime Minister Paetongtarn Shinawatra said.
Speaking on the last day of her two-day official visit to Cambodia, she said on Thursday that Washington’s reciprocal tariffs on the bloc’s exports were among a range of topics discussed with Cambodian Prime Minister Hun Manet.
Ms Paetongtarn said they talked about a possible framework for cooperation among Asean countries.
“We discussed what strengths each country has and how they can combine these strengths to increase the region’s bargaining power. It’s just an idea,” she said.
The premier said she raised the same issue with other leaders in Asean and they agreed that joining forces would make Asean a force to be reckoned with.
“We will have greater bargaining power. We will survive together in the face of the tariff hikes,” she said.
Ms Paetongtarn went on to say that Thailand is monitoring the situation closely after US President Donald Trump decided to delay enforcement for 90 days, allowing countries that did not retaliate to negotiate on trade matters.
“Many things have changed since the 90-day pause on the tariffs was announced [on April 9],” the prime minister said, adding that the US must also wait and assess the response from other countries affected by its hikes.
Ms Paetongtarn said Thailand must tread carefully and ensure it is well-informed before resuming talks with the US.
“We are still on track. We are still focusing on what more we can do,” the prime minister said, adding the government has also sought advice from Thai investors in the US to help keep tabs on developments there.
The government has postponed tariff negotiations with the United States.
Ms Paetongtarn said another team of Thai officials based there informed her the US wanted Thailand to review some issues that would be raised in the negotiations.
The Thai delegation, led by Deputy Prime Minister and Finance Minister Pichai Chunhavajira, had been scheduled to fly to Washington yesterday but had to temporarily shelve that plan to allow time for what possible concessions could be considered.
A new date for the negotiations will be scheduled, the prime minister said.
She did not give details on what issues could be reviewed, as requested by Washington.
Previously, Thailand offered to increase imports of US energy, aircraft, and agricultural products, as well as reduce certain import taxes, as part of its efforts to mitigate the impact of the tariffs.
Thailand’s trade surplus with the United States was estimated at US$45.6 billion last year.
Government spokesman Jirayu Houngsub said Ms Paetongtarn was granted an audience with Cambodian King Norodom Sihamoni at the Royal Palace yesterday during her official visit to the country.
The spokesman said relations and cooperation, especially people-to-people ties, are the foundation of the long-standing friendship between Thailand and Cambodia.
The Thai government attaches importance to promoting closer interactions between people of the two countries through the implementation of various development cooperation projects in Cambodia, such as projects under the royal initiative of Her Royal Highness Princess Maha Chakri Sirindhorn, which serve to strengthen relations between the two sides.
On Wednesday, Ms Paetongtarn paid a courtesy call on Hun Sen, the president of the Senate and head of the Supreme Privy Council of Cambodia, Mr Jirayu said.
They discussed issues of mutual interest and ways to promote peace and prosperity for both countries, as well as strengthen economic cooperation, trade and investment amidst global economic volatility, the spokesman noted.
Credit: Bangkok post
