Thailand News
25 July 2025
Thailand submits final proposal in US trade talks, aims for competitive ASEAN tax rates
Thailand has entered the final stage of negotiations with the United States on tax rates, with the deadline approaching on August 1, 2025. As pressure mounts from the success of trade deals between other ASEAN countries and the US, Thailand is hoping to secure a competitive tax rate in line with its regional counterparts.
Vietnam was the first in Asia to reach a deal with the US, agreeing to a 20% counter-tariff, followed by Indonesia at 19%. Recently, US President Donald Trump announced a reduced 15% tariff on Japan, down from 25%, after Japan agreed to open its markets, including importing cars, trucks, rice, and some agricultural products. The agreement is expected to create "hundreds of thousands of jobs."
Indonesia News
25 July 2025
US Deal: Indonesia to Only Lift Local Content Policy for Some Sectors
Indonesia will only lift its local content policy for some sectors in its trade deal with the US, according to chief negotiator Airlangga Hartarto, although Jakarta did not say which American products would get the special treatment.
A joint statement freshly issued by the White House revealed that Jakarta was willing to exempt US companies and originating goods from local content requirements. This major regulatory change was among the concessions that Jakarta made to have US President Donald Trump drop his reciprocal tariffs from 32 percent to 19 percent. Neither the joint statement nor the fact sheet provides the specifics of these eased curbs.