Posted on April, 15, 2025 at 07:47 pm
Thailand plans to cut tariffs on corn imports from the United States in response to US President Donald Trump placing a higher-than-expected 36% tariff on incoming Thai products earlier this month, the Bangkok Post reported.
After Thailand announced its intentions to reduce tariffs on US products, including corn, which currently stands at 73%, Trump last week announced a 90-day pause on the tariffs to allow for negotiations.
About 40% of Thailand’s annual corn consumption of 9 million tonnes is imported, with much of it going to the country’s feed industry, Thailand Finance Minister Pichai Chunhavajira said on April 11, according to the Bangkok Post. Thailand imported $2.7 million worth of US corn during 2024, according to the United Nations’ COMTRADE database on international trade.
Thailand’s government is reportedly considering reducing the tariffs on incoming US agricultural products to zero, according to Thailand Business News.
During the 90-day pause, most nations other than China will face a baseline 10% tariff. China has escalated the trade war with aggressive counter tariffs on products coming from the United States. The two countries currently have import tariffs of well over 100% on each other’s incoming products.
The United States, the world’s largest corn exporter, is projected to export 65 million tonnes of corn in marketing year 2024-25, according to the Foreign Agricultural Service of the US Department of Agriculture. It typically accounts for around 35% of the world’s total corn exports.
Source: World Grain