Thai exporters urged to gear for US policy changes

[webfact]

Thai exporters urged to gear for US policy changes
By PETCHANET PRATRUANGKRAI 
THE NATION

 

BANGKOK: -- THAI TRADE with the US is unlikely to be impacted this year, but Thai enterprises should prepare for a policy of protectionism and stringent regulations expected to come into force next year.

 

Commerce Minister Apiradi Tantraporn said Thailand’s trade with the US this year was expected to grow by about one per cent, worth US$25 billion, while next year is expected to see higher growth at 3 per cent. However, Thailand needs to closely monitor new president Donald Trump’s policies because if they are too stringent, the US economy could experience a slowdown.

Apiradi said that Trump’s policies could have a positive and negative impact on global trading. 

 

Full story: http://www.nationmultimedia.com/news/business/macroeconomics/30299682

 

-- © Copyright The Nation 2016-11-11

[Thechook]

Trump doesn't take the chair until next year so they are probably right, there won't be any impact this year.  I believe trump wants to increase the import tariff on asian goods by 45% so next year there will probably be an impact.

[rkidlad]

But that's unfair. Why is America allowed to do it? So what if Thailand does it. Thailand is only a small and poor country (playing the small and poor country card when convenient for you). 

 

Look, Thailand is a tiny market for a lot of foreign products. But at the end of the day, stuff like wine is ridiculously taxed. How many people in Thailand can afford a bottle of wine? 

 

I think I just wanna see wine come down in price. 

[Thechook]

27 minutes ago, rkidlad said:

But that's unfair. Why is America allowed to do it? So what if Thailand does it. Thailand is only a small and poor country (playing the small and poor country card when convenient for you). 

 

Look, Thailand is a tiny market for a lot of foreign products. But at the end of the day, stuff like wine is ridiculously taxed. How many people in Thailand can afford a bottle of wine? 

 

I think I just wanna see wine come down in price. 

Everything is imported is ridiculously overpriced.  It's about protectionism

Edited November 10, 2016 by Thechook

[yankee99]

1 hour ago, Thechook said:

Everything is imported is ridiculously overpriced.  It's about protectionism

Yes and know.  

 

Lots of products come in duty free and are ridiculously priced such as products from countries under the free trade agreements.  Its called greed

[maoro2013]

If my Alzheimers isn't too bad, I think I recall it being stated yesterday that the US elections wouldn't effect Thailand.

[Bullie]

I'm blown away by the sagacity of commerce minister Apiradi's prediction.

So it could have a positive and a negative influence on global trading.

 

That's wonderful to know.

 

[yellowboat]

Maybe Thailand should start lowering tariffs on wine.  US wine is okay.  Start somewhere. 

[Watchful]

Trump is a negotiator and simply wants "fair" deals. He could care less about the number of deals racked up. To him it's the quality of those deals that count.

Now saying that, Trump is also pissed at China. He blames (and I believed rightly so) China for the complete mess in North Korea.

Thailand's Commerce Minister would be wise to work with the Trump admistration as Thailand could gain significant numbers of assembly type jobs moved OUT of China. As Trump starts hammering away at China, the jobs must be performed somewhere and that "somewhere" will be countries with low labor rates, low nuisance business regulations, and fair trade deals with the US.

Edited November 11, 2016 by Watchful

[Srikcir]

4 hours ago, webfact said:

Trump’s policies could have a positive and negative impact on global trading. 

TRANSLATION:

No idea of impact.

[Lee4Life]

1 hour ago, yankee99 said:

Yes and know.  

 

Lots of products come in duty free and are ridiculously priced such as products from countries under the free trade agreements.  Its called greed

 

 yes...protectionism only works if the country produces similar items, the other part is greed

[GiantFan]

WTO looks at a countries tariff regime to confirm that imports are equally treated, not fairly treated.  What Trump is looking at is fairness.  A product imported into Thailand may incur 20% duty and when import from Thailand to the US, only 5%.  Is this fair?

But get ready for inflation.

[RichardColeman]

Be dangerous pegging the baht to the $ if US starts growing through protectionism and Thailand loses trade.

[elgordo38]

1% growth how crass. I am sure if the if the Commerce Minister and the TAT lady put their heads together they can come up with a 30% figure. 

[elgordo38]

7 hours ago, Thechook said:

Trump doesn't take the chair until next year so they are probably right, there won't be any impact this year.  I believe trump wants to increase the import tariff on asian goods by 45% so next year there will probably be an impact.

If he follows through on all his promises it will indeed be a lonely place at the top. 

[IAMHERE]

I don't know of any POTUS that has followed thru on all of his campaign promises. If 'fair' trade comes about then there will be an impact on Thailand-USA trade because there is such a large trade imbalance.  But the trade with Russia and China will make for any corrections in trade with the USA.