The United States and Thailand on Sunday announced a framework for reciprocal trade that would see the U.S. maintain a 19% tariff on Thai products while identifying products where tariffs could potentially be adjusted or cut to zero, Reuters reported. Thailand would in turn eliminate tariff barriers on approximately 99% of goods, covering a full range of U.S. industrial and food and agricultural products, the two countries said in a joint statement issued by the White House. Thailand is also committed to addressing barriers to U.S. exports, including the acceptance of U.S.

Thailand’s central bank held its policy rate steady on Wednesday, surprising markets that had expected the first decision under the new governor to be a cut to boost the economy, the Wall Street Journal reported. The Bank of Thailand’s monetary policy committee voted five to two to keep the policy rate at 1.50%, hitting the pause button again after delivering three cuts this year. Two members dissented, voting for a 25-basis-point reduction.

Thailand's new central bank chief said on Wednesday that he will maintain the independence of the Bank of Thailand (BoT) while collaborating with the government to address the country's economic challenges, the Bangkok Post reported. The central bank remains firm in its primary mission to ensure macroeconomic stability, Vitai Ratanakorn, 54, told reporters as he took over as governor effective from Oct 1, succeeding Sethaput Suthiwartnarueput.

Crypto users might be tempted to cash in on near-peak prices in the Land of Smiles as early as this month, as regulators plot out a new payments sandbox, DLNews reported. Thailand’s government is reportedly preparing to unveil the TouristDigiPay initiative that would allow foreign visitors to convert digital assets into Thai baht for use at local merchants. Crypto users might be tempted to cash in on near-peak prices in the Land of Smiles as early as this month, as regulators plot out a new payments sandbox.

In the ongoing trade battles between the United States and China, one besieged front line runs through the factories, warehouses and ports of Thailand, the Washington Post reported. Under pressure to close tariff loopholes, officials in the Southeast Asian country are poring over receipts and cross-checking business registration documents from exporters who want to sell wire rods, steering wheels and hard disks to American buyers. They’re conducting spot checks at factories to verify that products claiming to be made in Thailand are genuinely manufactured in the country.

Thailand’s central bank resumed cutting rates to help an economy beset by domestic instability and tariff headwinds, the Wall Street Journal reported. The Bank of Thailand’s monetary policy committee on Wednesday voted unanimously to cut its policy rate to 1.50% from 1.75%. The committee said monetary policy should be accommodative going forward to boost the economy. “At the same time, it is important to ensure macro-financial stability, while taking into account the limited policy space,” the BOT said.

The United States has reached trade agreements with Thailand and Cambodia, Commerce Secretary Howard Lutnick said on Wednesday night, after President Trump had threatened to end talks with the two nations if they did not agree to a cease-fire to halt their military conflict, the New York Times reported. Mr. Lutnick did not provide details of the new tariff rate. In an interview with Sean Hannity on Fox News, he said: “And you know what we did today? We made trade deals with Cambodia and Thailand.” He did not elaborate.

Thailand's cabinet gave its approval on Tuesday for Vitai Ratanakorn to take over as the next central bank governor and revive an economy in the doldrums with limited monetary policy room to work with, Reuters reported. The appointment of Vitai, 54, the president and CEO of the Government Savings Bank, would be subject to royal approval before he starts a five-year term on October 1. He was picked over central bank veteran and deputy governor Roong Mallikamas. Vitai would succeed Sethaput Suthiwartnarueput, who has reached retirement age.

Thailand is considering offering zero tariffs on more U.S. imports, the finance minister said on Monday, Reuters reported. The government is also preparing 200 billion baht ($6.1 billion) worth of soft loans to ease the impact of tariffs, Finance Minister Pichai Chunhavajira told a business seminar. Thailand faces a 36% tariff from Washington if a deal cannot be reached before August 1. Read more.