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Thailand’s GDP growth expected to slow due to US reciprocal tariffs

Thailand’s GDP growth expected to slow due to US reciprocal tariffs

14 Sept 02:06 Key points summarised by AI
  • US reciprocal tariffs are projected to reduce Thailand's GDP growth by 0.2-0.6%, lowering current estimates of 2.4-2.9%.
  • The Thai economy also faces impacts from fewer tourist arrivals, particularly from China due to its economic slowdown, compounded by the Myanmar earthquake.
  • The Joint Standing Committee on Commerce, Industry and Banking urges the government to implement short-term mitigation measures and revise macroeconomic policies to enhance competitiveness.
  • Thailand must remain vigilant against indirect impacts on US-bound exports from cheap Chinese product dumping and may need to increase imports from the US.
  • The situation presents an opportunity for the government and private sector to collaborate closely in addressing these new challenges amidst trade wars and natural disasters.
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