Call for steps to curb impact of tariffs

Thailand told to deal with trade impact

- NAREERAT WIRIYAPONG

Thailand's competitiveness will be severely damaged if the government fails to implement measures to curb the adverse impacts of US tariffs, said Siri Ganjarerndee, former Bank of Thailand assistant governor and current chairman of Tris Rating.

Addressing a forum co-hosted by Tris Rating and S&P Global Ratings yesterday, Mr Siri said the ongoing global trade situation is not in accordance with the World Trade Organisation's (WTO) principles, but largely influenced by geopolitics and non-economic factors used by powerful nations.

The abrupt changes seem to have been caused by the use of bargaining power by the powerful countries to rapidly solve the internal economic issues that have been building up for a long time.

"The current situation presents significant risks for Thailand, which has a high degree of openness and has heavily relied on exports and tourism for several decades," Mr Siri said.