Call for strategy to cover circumvention

Thailand, Vietnam to compete for US share

- PHUSADEE ARUNMAS

An academic has urged the government to develop a national strategy to tackle circumvention and adjust production structures by adding value to agricultural and industrial products, aligning with global trends.

Aat Pisanwanich, an expert in international economics and an advisor on Asean affairs at Intelligence Research Consultant, said the US government's decision to impose tariffs of 20% on Vietnamese goods and 19% on Thai goods is expected to heighten competition between the two nations in the US market as they both offer a variety of similar products.

According to Mr Aat, most Vietnamese products have a higher market share in the US than Thai products.

On average, Vietnamese goods hold a 72% market share compared with a 28% share for Thai products.

Key Vietnamese exports to the US include computers and peripherals, smartphones and peripherals, chips, office chairs, and furniture, representing 36% of Vietnam's total shipments to the US.