Thailand will cut tariffs on US corn imports

Thailand will cut tariffs on imports of corn from the United States, but volumes still need to be finalised Finance Minister Pichai Chunhavajira said on Friday. The country is among those in Southeast Asia hardest hit by US President Donald Trump’s trade measures, with a much larger than expected 36% tariff. A 90-day pause on the US tariffs will give officials more time to prepare a response. Thailand consumes about 9 million metric tonnes of corn annually, importing about 4 to 5 million tonnes, Mr Pichai said, adding that imports would have to benefit the country. “The cost of American corn is cheap, making the cost of our animal feed lower,” the minister said. US corn is subject to a 73% import tax, according to the Thai Feed Mill Association. The impact of the import volumes would have to first be assessed, he said, adding that Thailand could cut tariffs on agricultural products to zero and import more natural gas, while flag carrier Thai Airways plans to buy more planes ...