B20bn in relief prepped to assist Thai firms

The Finance Ministry is preparing more than 20 billion baht in relief efforts to cushion the impact of US tariff measures.

- WICHIT CHANTANUSORNSIRI

According to Lavaron Sangsnit, finance permanent secretary, after the US reciprocal tariff on Thailand of 19% was announced, it became more evident which sectors and products would be affected.

He said the relief measures will cover both industrial and agricultural products. For farming, the focus is on reforming the sector to ensure its long-term survival.

The main issue in agriculture is the large amount of land and labour used, as the yield per rai remains low, causing agriculture to account for only 8% of GDP, said Mr Lavaron.

"If the structure of the agricultural sector remains unchanged, it will not be able to survive," he said.

The government can utilise the remaining 24 billion baht in economic stimulus budget to address the impact of US President Donald Trump's tariffs, said Mr Lavaron.