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Thailand faces a tough balancing act in economic ties with major powers
Today 03:57Key points summarised by AI
- Thailand navigates complex economic relations, facing scrutiny over Chinese trade deficits, 'grey businesses,' and environmental concerns, while Japanese automakers protest an uneven playing field favoring Chinese EVs.
- Japanese manufacturers, long-term investors in Thailand, feel disadvantaged by tax policies that grant lower tariffs and excise taxes to Chinese electric vehicles, threatening Thailand's position as an automotive hub.
- The US accuses Thailand of facilitating China's evasion of US tariffs by serving as a transshipment route, potentially triggering a new trade offensive.
- In response, the Thai government is revamping its EV tax regime to support local investment and address concerns from Japanese carmakers, while pledging to tackle illegal Chinese business practices.
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