Commerce Ministry Accelerates Negotiations for Thailand-US Tax Dispute Settlement

On February 19, 2024, Supachee Suthamaphan, Minister of Commerce, disclosed that Thailand continues negotiations with the United States regarding the Anti-Retaliation Tax (ART Text) agreement. Multiple issues remain where both sides have different expectations, and some matters require policy-level approvals. The negotiation timeline is connected to Thailand's government formation process. During a February 12 meeting at the director-general level, the US expressed satisfaction with Thailand's election and expects the new government to be formed as scheduled. The Commerce Ministry plans to push for a mutually beneficial resolution by July. The US has not objected to Thailand submitting a list of products for tax exemption under Annex 3 of the Executive Order, though the final outcome depends on negotiation results.