Trump's Re-election Sparks Fresh Challenges for Thai Economy

[webfact]

Donald Trump. File photo courtesy: Wikipedia

 

The re-election of Donald Trump in the 2024 U.S. presidential race is set to alter the global economic landscape, posing new challenges and opportunities for Thai businesses.

 

The Thai National Shippers' Council (TNSC) has highlighted the need for companies, particularly exporters, to swiftly adapt to this changing environment.

 

Under Trump's "America First" policy, the TNSC anticipates a deepening divide between the U.S. and China, the world's two biggest trade blocs.

 

Chaicharn Charoensuk, the TNSC chief, emphasised the importance of Thai businesses remaining agile to navigate potential direct and indirect impacts stemming from these geopolitical shifts.

 

The looming threat of another U.S.-China trade war is of particular concern. Chaicharn suggests that Thailand could benefit if it positions itself as an attractive location for manufacturers seeking to relocate from China.

 

This would involve fostering a pro-investment atmosphere and enhancing Thailand’s role as a regional logistics hub.

 

"Thailand must aim to be a key part of the supply chain moving towards this region, not only within the country but also spanning across ASEAN and India," Chaicharn advised.

 

He also encouraged Thai entrepreneurs to explore new markets to mitigate the effects of potential shifts in U.S. foreign trade policy.

 

For instance, if the Trump administration pivots away from supporting electric vehicles in favour of internal combustion engines, there may be increased opportunities for Thailand to expand its automotive parts exports to the Americas.

 

Chaicharn further stressed the need for careful consideration in future trade negotiations, given the heightened sensitivity due to global power bloc divisions, reported Thae Nation.

 

"Thailand must stay neutral while protecting its market from cheap imports, particularly from China, by employing strict screening and supporting local manufacturers to innovate and reduce costs," he concluded.

 

-- 2024-11-08

 

 

[John Drake]

3 hours ago, webfact said:

"Thailand must stay neutral while protecting its market from cheap imports, particularly from China, by employing strict screening and supporting local manufacturers to innovate and reduce costs," he concluded

 

Joining BRICS is not being "neutral."

[Purdey]

Joining BRICS is a safeguard against those pesky tariffs. Always have a backup plan.

[sscc]

Not relevant.  

In this Region, Trump is to squeeze every bit from Japan, S. Korea, Philippines, Taiwan.  

They should get ready to pay higher protection fee as demanded by the new USA President.

Thailand is neutral,  not paying any.   

[john donson]

US economy....  pushing weapon and drug sales

 

what else is left?

 

retired people getting more SS than people in Europe get as a salary

 

no wonder all the factories did a runner, a few decades ago

[hotchilli]

8 hours ago, webfact said:

The re-election of Donald Trump in the 2024 U.S. presidential race is set to alter the global economic landscape, posing new challenges and opportunities for Thai businesses.

Opportunities yes, trade will flourish now that Trump is back

[jcmj]

Thailand needs to focus on what they can provide for export, not inviting the Chinese to come here and set up shop. That will not benefit most Thais and will probably hurt even more. There are obviously a few people in Thailand that will have bigger envelopes than usual, and I guess they will get more taxes, but that certainly doesn’t seem to help the average Joe. 

[RichardColeman]

Hopefully Trump will put a higher tariffs on any of Thailand's exported goods containing majority Chinese parts , forcing Thailand to start  manufacturing their own goods and building their own economy