Analysts estimate widespread tariff damage

Stock market analysts anticipate the US reciprocal tariff, which was higher than market estimates, could reduce Thai GDP by up to 1.2 percentage points, though a severe interest rate programme by Bank of Thailand cut interest rates to revitalise the economy.

- NAREEERAT WIRYIAPONG

Krungsri Securities (KSS) said the US announced broader reciprocal tariffs than expected, with higher Donald Trump using a 25% base import tariff on 190 countries effective April 5 (universal tariffs), with additional higher tariffs for certain countries including China, Japan, South Korea, Indonesia and India can bargain with the US to lower tariffs. I don't think Thailand has such capacity to do so, he said.

Kasem Prunratanamala, head of research at CGS International, said the reciprocal tariff on Thailand is well above the brokerage's expectation and the market consensus of 1-1.1%.