Core Insights - Thailand's government has reached a new tariff agreement with the United States, which implements zero tariffs on over 90% of U.S. products while establishing protective measures for certain sensitive agricultural products [1] Group 1: Tariff Agreement Details - The agreement includes a gradual tariff reduction on U.S. pork, with import quantity limits set to allow U.S. pork to account for less than 1% of domestic consumption [1] - U.S. pork exports must be free of ractopamine, a substance banned in Thailand, to comply with local regulations [1] Group 2: Impact on Local Industry - The measures aim to provide space for U.S. companies to test the market while allowing local producers, such as CP Group and Betagro, time to adjust and mitigate impacts [1] - For corn, Thailand will prioritize local corn purchases at fixed prices for domestic feed mills before allowing quota imports of U.S. corn [1] - The Thai Feed Mill Association estimates that Thailand could import up to $2.8 billion worth of U.S. corn, soybean meal, and distiller's grains annually [1]