Tariffs need ‘long term’ think

Be wary of cheap Chinese imports, govt told, writes Poramet Tangsathaporn

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The effects of the US tariffs on the Thai economy should lead the country to think “long-term’, says Sineenat Sermcheep, director of the Asean Studies Center, Faculty of Economics of Chulalongkorn University.

Thailand, the second largest economy in Southeast Asia, was hit with a rate of 36% before President Donald Trump announced a 90-day pause in his tariff rises, while keeping a basic 10% tariff in effect.

The academic suggested that Thailand needs to make use of this pause “to thoroughly examine strategies and the long-term effects that may occur in Thailand, as well as prepare for other potential uncertainty regarding President Trump’s trade policy’.

Diversifying export markets and growth engines should be adopted. Thailand could also increase its productivity while trying to find a way to increase its competitiveness so as to rely less on exports, she said.