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Trump seeks to reduce trade deficit with Thailand

IANS | Washington |

US President Donald Trump has suggested reducing trade deficit with Thailand when meeting with visiting Prime Minister Prayut Chan-o-cha at the White House.

“Our relationship on trade is becoming more and more important. And it’s a great country to trade with,” Trump told Prayut On Monday ahead of their bilateral talks.

“I think we’re going to try and sell a little bit more to you now, make that a little bit better if that’s possible.”

Statistics from the US Trade Representative shows that Washington maintained an $18.9 billion trade deficit with Thailand in 2016.

Over the past decade, two-way trade between Washington and Bangkok grew by more than 36 per cent, with US exports to Thailand increased by over 30 per cent to $10.6 billion.

Major US export categories to the southeastern country include electrical machinery, machinery, aircraft, optical and medical instruments, and vehicles.

“We have a very strong relationship right now,” said Trump.

Thailand will work closely to further strengthen the cooperation between the two countries, said Prayut.