Commerce Minister Jurin: Biden’s victory to help global economy

 

   

BANGKOK (NNT) - With Joe Biden soon to become the new United States President, many analysts say that the US trade policy will in future focus more on trade negotiations. The Deputy Prime Minister and Commerce Minister, Jurin Laksanawisit, says the policy of the Biden administration is likely to have a positive impact on the world economy and create more trade and investment opportunities for Thailand.

 

Mr. Jurin indicated that the victory of President-elect Biden may contribute positively to the global economy, including the Thai economy. The Biden administration is expected to re-engage in multilateral trade talks, instead of applying conditions to each of its trade partners.

 

Thailand, together with the Association of Southeast Asian Nations (ASEAN), may have more negotiating power, and may use the mechanisms of the World Trade Organization (WTO) more regularly, as the US President-elect is expected to place more importance on the WTO.

 

Mr. Jurin said the level of trade between Thailand and the US, rose more than seven percent in the past nine months, supporting Thai exports growth accordingly.

 

-- © Copyright NNT 2020-11-11

 

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3 hours ago, webfact said:

 

Mr. Jurin said the level of trade between Thailand and the US, rose more than seven percent in the past nine months, supporting Thai exports growth accordingly.

And just how will Biden increase this Mr. Jurin?  Will he give Carte Blanche to Thailand to keep exporting goods with Thailand reciprocating as it has not done in the past but still maintained a cut in fees? What a dream world he lives in. As far as his statement of a Biden Presidency contributing positively to the Global economy, he needs to explain how the US will rescue the world as they close down more and take care of their own country like democrats do.

Edited November 11, 20205 yr by ThailandRyan

Funny, I think Biden and Harris will be a terrible choice for the economy, both in the US and globally. 

Shouldn't everybody wait "to eat the cake" until Biden is officially elected? 

Everything has rules, even democracy. 

3 hours ago, Mr Meeseeks said:

Funny, I think Biden and Harris will be a terrible choice for the economy, both in the US and globally. 

Time will tell, but as you can see from the Thai side they are hoping they can continue with favourable terms while taxing the hell out of incoming products.

If the US economy slides, it would hurt the world’s economies.  Higher taxes, free healthcare, the green new deal and open borders looks more and more probable with a Biden administration.

Au Contraire mon Frere

 

On December 30th, of this year The United States will start assigning duties and taxes to many Thai Exports. Including, but not limited to: Mango, Pineapple, Steel, and Precious Stones.

 

This is a yearly export to The US of about 820 million USD, according to US News and World Report.

 

It has nothimg to do with the presidency, and everything to do with The United States Trade representative, and a lot of unhappy pig farmers represented by the National Pork Producers Council. 

 

Mr. Jurin of The Ministry of Commerce,  had over a decade to approve and authorize US Pork product Imports into Thailand.....

 

Now, he's stating trade relations may be better with the Biden Admin? Best of Luck.

 

 Not until you allow The Thai People to enjoy Italian Spicey Sausage and Breakfast Patties! 

 

 

On 11/11/2020 at 2:37 PM, Isaan sailor said:

If the US economy slides, it would hurt the world’s economies.  Higher taxes, free healthcare, the green new deal and open borders looks more and more probable with a Biden administration.

There's always a period of adjustment when the Whitehouse changes a tenant.

However Biden isn't going to bring wealth and prosperity to anyone globally, he will however at some point go on an extended world tour trying to buy friends, that might not bode well for USA's trade issues.