Thailand's finance minister announced plans to increase U.S. imports, reduce certain high taxes on American products, and tackle non-tariff barriers in an effort to negotiate more favorable terms regarding new U.S. tariffs. The current tariff rate of 36% imposed by the U.S. government on Thailand, which is higher than anticipated, is a priority concern for negotiations. Thailand is taking its time to prepare proposals before engaging in discussions with the United States. The government aims to achieve balanced trade with the U.S. in a 10-year timeframe. Prime Minister Paetongtarn Shinawatra confirmed a meeting with the United States Trade Representative, with plans for Thai exporters to explore new markets to mitigate risks. Measures will also be implemented to support businesses affected by the tariffs. The tariffs are expected to impact the country's growth, potentially reducing it by one percentage point this year. The government had initially targeted 3% growth for this year, following a 2.5% expansion last year, significantly below its regional counterparts. To address the trade imbalance, Thailand plans to import various U.S. goods such as corn, soybeans, crude oil, ethane, liquefied natural gas, vehicles, electronics, and aircraft. Additionally, rules on U.S. pork imports will be reviewed. Last year, Thailand had a trade surplus of $35.4 billion with the U.S., while the U.S. cited a deficit of $45.6 billion with Thailand. The announcement of the tariffs caused a 6.1% drop in Thailand's stock index on Tuesday, leading the Stock Exchange of Thailand to impose trading limits and prohibit short selling to mitigate volatility.