PM MARCH UP ON US TRIP The President has a trade imbalance with Thailand
PRIME MINISTER General Prayut Chan-o-cha yesterday visited US President Donald Trump at the White House, marking revitalized relations between Thailand and the US and the announcement of several new deals.
While Thailand has focused on a Boeing investment to boost the Eastern Economic Corridor, the US looks forward to Thai investments in the gas and coal sectors, the opening of its domestic pork market and military purchases. Prayut is leading a Thai delegation including Deputy Prime Minister Somkid Jatusripitak and top-level economic officials on a three-day visit to the US to meet with Trump, other senior US officials, and the business community.
The two leaders and their spouses met at the Oval Office at noon on Monday (1 am yesterday Thailand time). While both leaders underlined cooperation in regional security, trade, and investment, Trump made clear that the US was looking to improve its trade deficit with Thailand. “It’s [Thailand’s] a great country to trade with. They make products and different things that are really very important to us, and we likewise sell to you,” Trump was quoted as saying.
“I think we’re going to try and sell a little bit more to you now, make that a little bit better if that’s possible,” the president said. Thailand ranks 11th among 16 countries on a watch list held by the Trump administration due to its significant trade surplus relative to the US. In the first half of 2017, the US trade balance with Thailand was negative US$11.45 billion (Bt382.7 billion), according to the US Census Bureau. Source: Nations