Shippers fear exports will grow below 1%

Shippers warn that exports may grow by only 0-1% this year, calling on the government to urgently negotiate with the US to lower its proposed tariff rate to less than 36% for Thai products.

- PHUSADEE ARUNMAS

Dhanakorn Kasetrsuwan, chairman of the Thai National Shippers' Council (TNSC), said the 36% tariff is significantly higher than anticipated, escalating export costs and making Thai products less competitive in the US market.

Thai products likely to be less competitive include electrical appliances, electronics, processed foods, rice, rubber and rubber products, and other consumer goods, according to the TNSC.

He said many affected industries are labour-intensive, raising concerns over potential mass layoffs.

Agricultural products may also struggle to compete, which could put downward pressure on domestic prices and affect the incomes of farmers and households, said Mr Dhanakorn.