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Thailand expects to conclude trade talks with the U.S. before the August 1 deadline, and U.S. tariffs are unlikely to reach 36%, Finance Minister Pichai Chunhavajira said Tuesday. Meanwhile, acting Prime Minister Phumtham Wechayachai said Bangkok expects the Trump administration to offer a “very good” trade deal, following an agreement to end an armed border conflict with Cambodia under a U.S.-brokered peace initiative. The U.S. was Thailand’s largest export market in 2024, accounting for 18.3% of total exports, or USD 54.96 billion, while the U.S. trade deficit with Thailand stood at $45.6 billion. Pichai added that Thailand’s proposal remains unchanged. He noted that tariffs could be announced on August 1 or 2.