Government preps budget for tariff woe

Measure to mitigate impact of US policy

- WICHIT CHANTANUSORNSIRI

The government looks set to allocate additional budgetary support for businesses impacted by the US reciprocal tariffs.

A source from the Government House who requested anonymity said the impact of US President Donald Trump’s tariff policy is expected to significantly affect domestic entrepreneurs.

To mitigate the impact and prevent layoffs, the economic stimulus committee yesterday decided to allocate the remaining 42 billion baht of the economic stimulus budget to help businesses.

Speaking after the committee’s meeting yesterday, Finance Minister Pichai Chunhavajira said most of the remaining 42 billion baht would be used to cushion the impact of Trump's tariff measures.

Mr Pichai also mentioned progress in tax negotiations with the US, stating that he would send responses to questions raised by the US late yesterday.

Budget allocation is a key tool to address these challenges, stimulate the economy and strengthen the economic system amid high uncertainty.