The Commerce Minister said the reciprocal tariff talks with the US appear to be making good progress and he expected both sides to agree on tariffs as low as 10%.
Commerce Minister Pichai Naripthaphan expected the talks would go well as Thai and US officials have held negotiations via video conference and Thailand has submitted a proposal aimed at enhancing economic collaboration between the two countries.
However, he said a date for talks at the ministerial level had not yet been set.
On Monday he did not provide details on what would be discussed or why he thought the tariff level would be lowered from the 36% rate the US has said it will place on Thai goods.
He added that Thailand had held discussions with US Trade Representative Jamieson Greer since late 2024.
"We expect to see more clarity this week. Don't worry, we have everything prepared and our negotiations should be successful," he said.
He said the US had shown its willingness to extend the period of consideration concerning the raising of import tariffs for countries demonstrating a commitment to negotiating with the US.
"We have shown our intention to negotiate, and I am confident we can secure a favourable tariff rate. I expect a 10% tariff for Thailand," he said.
Mr Pichai said this rate would help exports perform strongly and keep the country competitive against others.
The ministry is set to announce the export figures for May on Wednesday.
Mr Pichai added that during international meetings, various countries have been questioning Thailand about the strength of the baht, despite the struggling economy.
Competing nations, including Japan and Vietnam, have seen their currencies weaken, he said.
He said he expected that the new governor of the Bank of Thailand would address the currency issue and called for a weaker baht to support exports and tourism, saying a level of 37-38 per greenback was an appropriate level.
The baht traded at 32.45 against the US dollar on Monday.