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Thailand Aims to Reduce Trade Surplus with US
Targeting a $20 Billion Trade Surplus
Thailand is working to lower its trade surplus with the United States to $20 billion by increasing imports of U.S. goods, an industry official announced on Friday.
Focus on Agricultural and Industrial Imports
Passakorn Chairat, head of the Industry Ministry’s Industrial Economics Office, stated that the government plans to boost imports of agricultural products such as corn, soybeans, and ethylene. However, he noted that these imports may impact domestic production.
Trade Surplus Figures Differ
According to the Commerce Ministry, Thailand recorded a trade surplus of $35.4 billion with the United States last year. However, Washington reported a higher figure, stating its trade deficit with Thailand was $45.6 billion.
No Specific Timeline for Reduction
While the goal is to reduce the trade surplus, officials have not provided a clear timeline for achieving the $20 billion target.
“Thailand Aims to Reduce Trade Surplus with US”