Thailand Vows to Cut US Trade Surplus as It Sees $8 Billion Hit
Trade-reliant Thailand stands to be the biggest loser in the region given its large exposure to the two sectors most vulnerable to reciprocal tariffs: agriculture and transport.
Photographer: Dario Pignatelli/BloombergThailand pledged to narrow its trade surplus with the US by importing more energy and food products, with officials estimating the hit to the Southeast Asian nation’s exports at about $8 billion if the Trump administration raised tariffs by 11%.
Prime Minister Paetongtarn Shinawatra’s government has prepared a strategy to cope with reciprocal tariffs scheduled to be announced by President Donald Trump on Wednesday, Vuttikrai Leewiraphan, permanent secretary at the Ministry of Commerce, told a briefing in Bangkok. Thailand will adopt a “holistic approach” to trade negotiations to minimize the impact on its economy, he said.