Trump's trade policies haunt public & private sectors

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Trump’s trade policies haunt public & private sectors

 

 

BANGKOK: -- The US President-elect Donald Trump's trade policy is now causing concern among the public and private sectors with recommendation that they must adapt to cope with the policy change.

 

The Commerce Minister voiced concern over his new foreign trade policies which may have impact on the national economy.

 

This sentiment is being echoed by the private sector most especially among local exporters as the US is the country’s primary export market.

 

They however commented that in the short term, the effects will be minimal but advised exporters – especially smaller operators; to prepare to make changes to compensate for the increased volatility that will result from the implementation of his trade policies.

 

Benjarong Suwankiri, the deputy chief economist at Thai Military Bank’s Economics Research Centre, believes that the new president-elect will place the highest priority towards jump starting the US economy over bilateral trade negotiations which will stall Thailand’s trade with the US.

 

Furthermore, he said  that there is a strong possibility that Mr Trump will withdraw its former strategic obligations with the Asia-Pacific countries while trade barriers with China will definitely rise.

 

This in turn will indirectly affect Thailand’s export sector, he said.

 

With this in mind, the possibility of a contraction of the country’s exports for next year is very high.

 

Full story: http://englishnews.thaipbs.or.th/trumps-trade-policies-haunt-public-private-sectors/

 

-- © Copyright Thai PBS 2016-11-11

[Watchful]

The Commerce Minster is totally neglecting the potential huge gain in assembly type work for Thailand.  Look, he is correct in that Trump is really, really pissed at China for a whole host of reasons. (At the top of his list is the total mess in North Korea).

 

As Trump hammers away at China, assembly work will move out. This work must be performed somewhere. Thailand should position itself to benefit from this situation and look at it as an opportunity .... not a problem.

Edited November 11, 2016 by Watchful

[ikke]

Despite it would also effect my company's export, I fully agree with Trump .

Its about time Europe follows the same track and puts all taxes on import to an equal level as the Asian countries do.

 

Thailand charges 200 % on a car from Germany, so the EU should charge Thailand car-parts 200% , they charge 30% on Cheese, or other foods, so Eu and US should charge on all food include rice at 30% (just examples) 

[Brer Fox]

Export numbers have been on a downhill slide for sometime. This election result may now steepen that slide.

Thailand as with some other countries seem to be spooked by the Trump win.

What would be interesting is if the US decided to impose similar tariffs on Thailand as those those that Thailand presently impose on US imports. That would set the cat among the pigeons.

[Brer Fox]

2 minutes ago, ikke said:

Despite it would also effect my company's export, I fully agree with Trump .

Its about time Europe follows the same track and puts all taxes on import to an equal level as the Asian countries do.

 

Thailand charges 200 % on a car from Germany, so the EU should charge Thailand car-parts 200% , they charge 30% on Cheese, or other foods, so Eu and US should charge on all food include rice at 30% (just examples) 

As a matter of interest to drinkers the base price of imported spirits and wine is blown higher by up to 400% by way of tariffs, duty, taxes and surcharges.

[rkidlad]

Thailand wants to protect its own products and allows its companies to monopolise here.

 

If Thailand wants to protect its products here, fair enough. Up to them. But you can't get annoyed if other countries do it too. As for monoplolising, that's not up to the Thais. That's up to a very small group of rich people who have rigged the market. They can spout all the nationalistic rhetoric and get people to think Thai companies are the best. But at the end of the day, you'll be paying more for an inferior product because there's no competition. 

 

A partnership works two ways. Gotta take and give. And for anyone who wants to use visas as an example, no! No one from the west is coming here to drive taxis or work in a supermarket, etc. Most are coming to holiday and spend money. It makes perfect sense to have easy short-term access. As for Thais going to the US, sure there'll be plenty of genuine tourists, but there also be lots of people looking to work. 

 

I agree there should be a fair playing field. US is vastly more wealthy than Thailand so it doesn't have to be 50/50. I believe in helping other countries. But if you want help, you're gonna have to show some love back. As the local girl on the dating website who contacted me trying to sell sex said to me "Why you think you can have sex for free?" I didn't. You came to me. 

[trogers]

Time to see if technocrats run the Thai ministries, or the same old civil servants...

 

That's the indicator on any major structural changes to the economy and businesses.

[Enoon]

3 hours ago, Watchful said:

The Commerce Minster is totally neglecting the potential huge gain in assembly type work for Thailand.  Look, he is correct in that Trump is really, really pissed at China for a whole host of reasons. (At the top of his list is the total mess in North Korea).

 

As Trump hammers away at China, assembly work will move out. This work must be performed somewhere. Thailand should position itself to benefit from this situation and look at it as an opportunity .... not a problem.

 

Better not tell those people who voted for him that the US will still be importing dirt cheap products from Asia.

[yellowboat]

Lower some tariffs and make the elected, megalomaniac smile.  Do nothing and incur his wrath.

[kiwikeith]

5 hours ago, Watchful said:

The Commerce Minster is totally neglecting the potential huge gain in assembly type work for Thailand.  Look, he is correct in that Trump is really, really pissed at China for a whole host of reasons. (At the top of his list is the total mess in North Korea).

 

As Trump hammers away at China, assembly work will move out. This work must be performed somewhere. Thailand should position itself to benefit from this situation and look at it as an opportunity .... not a problem.

 

Trump says he will not sign the TPP which is good for Thailand and will keep car manufacturing here.

He will be peeving off Monsanto which is also good.

[SOTIRIOS]

.....less and less real journalism to be found here.....

 

...jeez....

[Dtrump]

After Trump's election the Dow Jones hit an all time high.  Never been higher.  Highest it's been since 1896.

[jerojero]

Haunt? Let's see what he actually does before doom gloom or glory proclaimed!

[Ulic]

15 hours ago, ikke said:

Despite it would also effect my company's export, I fully agree with Trump .

Its about time Europe follows the same track and puts all taxes on import to an equal level as the Asian countries do.

 

Thailand charges 200 % on a car from Germany, so the EU should charge Thailand car-parts 200% , they charge 30% on Cheese, or other foods, so Eu and US should charge on all food include rice at 30% (just examples) 

Reciprocity.