Experts urge Thailand to proactively address potential harm from US tariffs, emphasizing the need for trade cooperation, diversification, and improved competitiveness to mitigate economic impacts.
Experts recommend that Thailand proactively address the risks associated with US President Donald Trump‘s tariff policies, as the country is particularly susceptible to increased tariffs among Southeast Asian nations. With a significant trade surplus with the US, Thailand could become a target for tariffs, especially following Trump‘s recent executive order imposing a 25% tariff on steel and aluminum imports.
Thai Commerce Minister Pichai Naripthaphan has assured that the government will strive to avoid becoming a target by engaging in discussions with US officials. Despite efforts to negotiate, experts express concern that Thailand may still face tariffs, highlighting that the potential impacts on global trade and market stability can be significant.
To mitigate the effects of US tariffs, analysts suggest strengthening regional trade cooperation and diversifying export markets. Emphasizing innovation and increasing Thailand‘s manufacturing value can also help enhance product competitiveness. Ultimately, Thailand must adapt to evolving trade dynamics to lessen the implications of US policies on its economy.
Source : Thailand airs concern over tariff policy – World
