Thailand to reduce tariffs on corn imports from US

World World: Thailand will cut tariffs on corn imports from the US, but the import volume has not yet been decided, Finance Minister Pichai Chunhwajira said on Friday.Thailand was hit hard by US trade measures that imposed tariffs of up to 36%. However, the 90-day moratorium on US tariffs will give officials more time to prepare a response.

Thailand consumes about 9 million metric tons of corn each year, of which 4 to 5 million tons are imported. The finance minister said that as US corn is cheaper, it will reduce the cost of animal feed.

Pichai also said Thailand may cut tariffs on agricultural products to zero and increase natural gas imports. There are currently no plans to import pork from the US as it would impact local producers.