Thailand has misjudged the US in tariff talks - Former finance minister

13 Sept 12:14 Key points summarised by AI

Former finance minister Korn Chatikavanij asserts Thailand misjudged the US's stance in tariff talks, expecting a "win-win" while the US aims to reverse Thailand's long-standing trade surplus.
The US imposed an unprecedented 36% tariff on Thai exports, the highest ever encountered, severely impacting Thailand's competitiveness against countries like Vietnam (20% tariff) and Mexico.
Experts advise Thailand to abandon the "win-win" approach for a "give-and-take" strategy, necessitating the opening of its domestic market to US imports and lifting non-tariff barriers, particularly in the agricultural sector.
Recommendations include attracting high-tech industries (EV parts, AI hardware, data centers) with incentives and actively pursuing new free trade agreements with blocs like the EU, RCEP, and GCC to diversify markets and mitigate impacts.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.