Tariff impact likely in Q3

Thailand eyes deal with US soon

- WICHIT CHANTANUSORNSIRI

The impact of US President Donald Trump's tariffs on the Thai economy is likely to become clearer in the third quarter, says Deputy Finance Minister Julapun Amornvivat.

Thai exports accelerated in the second quarter to avoid the tariffs, as a 90-day pause on the measures means their impact is still unknown, he said.

“For Thailand, the situation should become clearer once the US starts trade negotiations with us. Discussions are expected soon, and if they proceed smoothly, the negative impact may be mitigated,” said Mr Julapun.

He said one certainty is a 10% tariff on exports to the US, which the country has implemented for all nations sending goods to its shores.

However, Mr Julapun said Thailand can accept negotiations that ensure the tax rate the US imposes on Thailand is not higher than that of competitor countries.

Thailand was initially slapped with a 36% US tariff in April, and the 90-day moratorium expires in July.