Thailand will cut tariffs on US corn imports

Published Apr 15, 2025

Tridge summary

Thailand is planning to reduce tariffs on corn imports from the United States, following the negative impact of US trade measures. The country consumes approximately 9 million metric tonnes of corn annually, with 4 to 5 million tonnes imported. The finance minister, Pichai Chunhavajira, stated that any import volumes and negotiations are still under discussion. The US is Thailand's largest export market, with a deficit of $45.6 billion. The government is also considering reducing tariffs on agricultural products and increasing natural gas imports. No plans for importing US pork have been announced, as it could negatively affect local producers. The government is also looking into increasing joint investment in energy with the US.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

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 ...

Source: UkrAgroConsult