Thailand braces for Trump dumping TPP

[webfact]

Thailand braces for Trump dumping TPP
By The Nation

 

Country needs to focus other bilateral and regional deals next year, officials say

 

BANGKOK: -- Thailand should get ready to renegotiate the framework of the US-Asean free-trade agreement (FTA) after US President-elect Donald Trump announced yesterday that he would scrap the Trans-Pacific Partnership (TPP) deal in his first 100 days in office, top government and private sector officials said. 

Thailand and the US should also negotiate a bilateral deal under Trade and Investment Framework Agreements (TIFAs) in the first quarter of next year, they said. Thailand is due to host a meeting on trade and investment expansion and to tackle trade barriers between the two countries.

Trump said yesterday that he will tear up the TPP deal – initiated by outgoing President Barack Obama – as soon as he arrives at the White House in January. 

 

Full story: http://www.nationmultimedia.com/news/business/30300628

 

-- © Copyright The Nation 2016-11-23

[NeverSure]

Why has the US allowed so many countries to export to the US duty free and then not reciprocate? This is the case with the US and Thailand. Thailand charges healthy import duties but the US doesn't. This is bad for US citizens because manufacturing has moved offshore. It would make no sense to manufacture cars in Thailand if they could be imported duty free. In that case the host country would build the cars and keep the jobs.

 

The US has been stripped of so many good manufacturing jobs as they went to China, Mexico and elsewhere including yes, Thailand.

 

If the US charged as much import duty as Thailand does for everything that's imported, those jobs would come back. Actually they would never have left in the first place because the duties would offset any savings from cheaper labor overseas. That's not to mention the high cost of long distance shipping.

 

Americans are beginning to revolt against this as former manufacturing plants and the towns that hosted them have dried up along with the jobs. That's a huge part of the current election results. Trump cleaned up along the "Rust Belt" where so many good manufacturing jobs used to be before they went overseas.

 

We'll see.

 

Cheers.

[Emster23]

Correct me if I am wrong, but I thought Thailand wasn't part of TPP. Seems like business as usual if Trump dumps

[SpokaneAl]

Why has the US allowed so many countries to export to the US duty free and then not reciprocate? This is the case with the US and Thailand. Thailand charges healthy import duties but the US doesn't. This is bad for US citizens because manufacturing has moved offshore. It would make no sense to manufacture cars in Thailand if they could be imported duty free. In that case the host country would build the cars and keep the jobs.
 
The US has been stripped of so many good manufacturing jobs as they went to China, Mexico and elsewhere including yes, Thailand.
 
If the US charged as much import duty as Thailand does for everything that's imported, those jobs would come back. Actually they would never have left in the first place because the duties would offset any savings from cheaper labor overseas. That's not to mention the high cost of long distance shipping.
 
Americans are beginning to revolt against this as former manufacturing plants and the towns that hosted them have dried up along with the jobs. That's a huge part of the current election results. Trump cleaned up along the "Rust Belt" where so many good manufacturing jobs used to be before they went overseas.
 
We'll see.
 
Cheers.

Many, if not most of the manufacturing jobs have been lost to automation.


Sent from my iPad using Thaivisa Connect

[bark]

27 minutes ago, Emster23 said:

Correct me if I am wrong, but I thought Thailand wasn't part of TPP. Seems like business as usual if Trump dumps

Correct, they were not a member of this free trade agreement.

 

[exalll]

5 hours ago, NeverSure said:

Why has the US allowed so many countries to export to the US duty free and then not reciprocate? This is the case with the US and Thailand. Thailand charges healthy import duties but the US doesn't. This is bad for US citizens because manufacturing has moved offshore. It would make no sense to manufacture cars in Thailand if they could be imported duty free. In that case the host country would build the cars and keep the jobs.

 

The US has been stripped of so many good manufacturing jobs as they went to China, Mexico and elsewhere including yes, Thailand.

 

If the US charged as much import duty as Thailand does for everything that's imported, those jobs would come back. Actually they would never have left in the first place because the duties would offset any savings from cheaper labor overseas. That's not to mention the high cost of long distance shipping.

 

Americans are beginning to revolt against this as former manufacturing plants and the towns that hosted them have dried up along with the jobs. That's a huge part of the current election results. Trump cleaned up along the "Rust Belt" where so many good manufacturing jobs used to be before they went overseas.

 

We'll see.

 

Cheers.

 

Suggest you read this:

https://en.wikipedia.org/wiki/Catfish_Dispute 

[CGW]

5 hours ago, NeverSure said:

Why has the US allowed so many countries to export to the US duty free and then not reciprocate? This is the case with the US and Thailand. Thailand charges healthy import duties but the US doesn't. This is bad for US citizens because manufacturing has moved offshore. It would make no sense to manufacture cars in Thailand if they could be imported duty free. In that case the host country would build the cars and keep the jobs.

 

The US has been stripped of so many good manufacturing jobs as they went to China, Mexico and elsewhere including yes, Thailand.

 

If the US charged as much import duty as Thailand does for everything that's imported, those jobs would come back. Actually they would never have left in the first place because the duties would offset any savings from cheaper labor overseas. That's not to mention the high cost of long distance shipping.

 

Americans are beginning to revolt against this as former manufacturing plants and the towns that hosted them have dried up along with the jobs. That's a huge part of the current election results. Trump cleaned up along the "Rust Belt" where so many good manufacturing jobs used to be before they went overseas.

 

We'll see.

 

Cheers.

Why has the US allowed this? in a nutshell globalization! The "owners" care only about profit! so they go where they can make the most money, why does the US government allow this? well I think recent events have proven that the outgoing government was controlled by the globalists! hopefully Trump will change matters though the jury is out on that?

Edited November 23, 2016 by CGW

[Brer Fox]

1 hour ago, Emster23 said:

Correct me if I am wrong, but I thought Thailand wasn't part of TPP. Seems like business as usual if Trump dumps

I think you're right. I seem to recall in this instance Thailand chose to sit on the fence and procrastinate while most other western Pacific nations were awake to the possible benefits and jumped on board. All to no avail it now appears. 

 

I think that Thailand needs to brace for a few other economic realities like a huge budget deficit blowout from the rice subsidies and other extravagances.

 

Submarines, tanks, fast trains, planes for aircraft carriers, shipping canals, border protection walls and many other dreamtime projects seem a long way away. Even further away on the timeline than fixing corruption, and reducing the road toll and eliminating prostitution (Madame TAT's inspirational idea to help bring in more tourists).

[kamahele]

I'm not sure why this is a story as I thought Thailand was not signed on to TPP. It's actually good news for them as they won't be at a disadvantage with their neighbors I would think.... Not actually good news for America as the agreement was seems to be very beneficial to US businesses.

[kowpot]

Meanwhile, S&P 500 earnings grew for the first time in more than a year. According to data compiled by The Earnings Scout, earnings per share had grown 6.21 percent as of Tuesday at 8:30 a.m. ET. 
Stocks have also been bolstered by Trump's surprising win over Democrat Hillary Clinton, as expectations for deregulation in a number of sectors and tax cuts have increased optimism in the U.S. stock market. 
On Monday, Trump expanded on his policy agenda, which includes withdrawing from the Trans-Pacific Partnership (TPP). The trade pact was a centerpiece of the Obama administration's "pivot" towards Asia and was meant to solidify the U.S.'s presence in what is considered by many American companies as the most economically dynamic part in the world. 

[Srikcir]

7 hours ago, webfact said:

 

 

28 minutes ago, Brer Fox said:

Thailand chose to sit on the fence

It has been Prayut's decision alone to delay joining TPP. He was advised by DPM Somkid and the Thai enterprise sector that it would be advantageous for Thailand to join. But I suspect Prayut's 2014/2015 trade agreements with China has forced him to rule out joining TPP due to political loyalties towards China. Ptraytut might well be pleased to see Trump withdraw from the TPP, especially if that allows the TPP to continue to exist (questionable) and Thailand can join without political conflict between the US and China.

[fred007]

Free trade agreement for motor vehicles two examples the US and Australia not reciprocating 

Wow a big wake up call for Thai Government is  coming if other countries follow the US lead 

Forget about free travel visas issued to only 20 lucky countries thats in it self is laughable.

Soon Thailand will issuing free visas free accomodation and free cars when the economy crashes here. 

[Kabula]

I believe the main stream news is over reacting early on.

 

Trump has not even been sworn in and that will not happen for a month and a half as I recall.

 

A lot can happen in that time.

 

Remain calm and have fun!

[Acharn]

4 hours ago, Emster23 said:

Correct me if I am wrong, but I thought Thailand wasn't part of TPP. Seems like business as usual if Trump dumps

 

That was my understanding, as well. And the TPP was signed but has not been implemented because it  has not yet been ratified by any country's government. Well, I guess with some of the countries it would just be a formality. But, still, what's to change? By the way, I recall when President Obama was here pushing TPP was one of the things he was on about, and the governor of the Bank of Thailand took the extremely unusual step of writing an editorial in the Bangkok Post saying that there were secret provisions in the agreement that might not be in the Kingdom's best interest. 

[Acharn]

32 minutes ago, Kabula said:

I believe the main stream news is over reacting early on.

 

Trump has not even been sworn in and that will not happen for a month and a half as I recall.

 

A lot can happen in that time.

 

Remain calm and have fun!

 

Leaders of both major parties in the U.S. Congress have stated that they will not be bringing the agreement up for a vote. It is pretty clear now that there is not a majority in either house to pass it. Still, it has not been killed with fire, and there are huge multinational corporations with hundreds of billions of dollars available for "campaign donations" to change their minds.

[Khon Kaen Dave]

Will it affect the Baht,if trump dump's?

[fruitman]

31 minutes ago, Khon Kaen Dave said:

Will it affect the Baht,if trump dump's?

 

I bet so....

[sabaii69]

11 hours ago, NeverSure said:

Why has the US allowed so many countries to export to the US duty free and then not reciprocate? This is the case with the US and Thailand. Thailand charges healthy import duties but the US doesn't. This is bad for US citizens because manufacturing has moved offshore. It would make no sense to manufacture cars in Thailand if they could be imported duty free. In that case the host country would build the cars and keep the jobs.

 

The US has been stripped of so many good manufacturing jobs as they went to China, Mexico and elsewhere including yes, Thailand.

 

If the US charged as much import duty as Thailand does for everything that's imported, those jobs would come back. Actually they would never have left in the first place because the duties would offset any savings from cheaper labor overseas. That's not to mention the high cost of long distance shipping.

 

Americans are beginning to revolt against this as former manufacturing plants and the towns that hosted them have dried up along with the jobs. That's a huge part of the current election results. Trump cleaned up along the "Rust Belt" where so many good manufacturing jobs used to be before they went overseas.

 

We'll see.

 

Cheers.

In a small way Americans are taken advantage of even by small posts of packages,e.g. I was forced to pay duty of twice the value of the contents of coffee shipments twice. A sort of blackmail. Did I mention that we gave Thailand $100 million cash this year? Go Trump-no chump!

Edited November 23, 2016 by sabaii69

[sabaii69]

3 hours ago, Kabula said:

I believe the main stream news is over reacting early on.

 

Trump has not even been sworn in and that will not happen for a month and a half as I recall.

 

A lot can happen in that time.

 

Remain calm and have fun!

When you're getting screwed, relax and try to enjoy it? America has had enough.

[Krataiboy]

4 hours ago, Acharn said:

 

That was my understanding, as well. And the TPP was signed but has not been implemented because it  has not yet been ratified by any country's government. Well, I guess with some of the countries it would just be a formality. But, still, what's to change? By the way, I recall when President Obama was here pushing TPP was one of the things he was on about, and the governor of the Bank of Thailand took the extremely unusual step of writing an editorial in the Bangkok Post saying that there were secret provisions in the agreement that might not be in the Kingdom's best interest. 

 

 

 

How can anyone be expected to know whether or not theTPP would be beneficial to Thailand? Like its sister deal, the TTIP which Obama attempted to foist on the EU, this so-called "free trade" agreements was drafted and negotiated behind closed doors with the public excluded from the participation process and politicians sidelined and deprived of details.

 

Clearly, it would be irresponsible for any government to sign an agreement which contains what the Bank of Thailand governor calls "secret" provisions. There is nothing secret, however, about at least one controversial aspect of TPP - allowing transnational companies to sue governments which seek to regulate their cross-border activities.  Such disputes would be adjudicated not in a civil court of the country concerned but by a specially-created international tribunal of industry "experts" with the power to award corporate petitioners  billions of dollars compensation in lieu of notional lost profits.

 

There is plenty of stuff out there for anybody interested in researching the subject, with the following link a good place to start:

http://www.twn.my/twnf/2015/4276.htm

 

 

 

[Xircal]

11 hours ago, Emster23 said:

Correct me if I am wrong, but I thought Thailand wasn't part of TPP. Seems like business as usual if Trump dumps

 

Quite right. The countries which were part of the TTP deal were the US, Japan, Malaysia, Vietnam, Singapore, Brunei, Australia, New Zealand, Canada, Mexico, Chile and Peru.

 

Thailand could benefit if it signed up to China's OBOR and RCEP though: http://www.bbc.com/news/business-38061616

 

 

Edited November 23, 2016 by Xircal

[Xircal]

8 hours ago, fred007 said:

Free trade agreement for motor vehicles two examples the US and Australia not reciprocating 

Wow a big wake up call for Thai Government is  coming if other countries follow the US lead 

Forget about free travel visas issued to only 20 lucky countries thats in it self is laughable.

Soon Thailand will issuing free visas free accomodation and free cars when the economy crashes here. 

 

That's unlikely to happen anytime soon since Thailand and China have been deepening ties just lately. It all went a bit awry after US Ambassador to Thailand Kristie Kenney harshly criticised the coup which overthrew the Yingluck administration advocating a return to democracy which didn't go down too well with the junta: http://www.uscnpm.org/blog/2016/04/04/is-the-united-states-losing-thailand-to-china/

 

We're now seeing a surge in Chinese visitors to Thailand and the two countries have held bilateral military exercises recently. TTP could have saved the day by containing China which wasn't included in the treaty, but Trump only looked at the figures by the sound of it and since the deal wouldn't have led to any significant benefit for the US, he scrapped it (or soon will).

 

China no doubt will be over the moon and I can imagine the celebrations going on behind closed doors on hearing the news that the US was going to withdraw from the treaty. Watch what happens now as the countries which would have benefitted from TPP also move closer to China. The US will become marginalised and its influence in the world will begin to wane.

 

It's going to be interesting to see what Trump does when he realizes the US ship is about to capsize and the crew didn't wait for the order to abandon ship.

 

[Kiwiken]

Yes the other signatories to the TPP will now most likely sign to the Chinese initiative. NZ has no trade Barriers but the US has plenty against us. So free trade . ha ha ha

[Kabula]

11 hours ago, Acharn said:

 

Leaders of both major parties in the U.S. Congress have stated that they will not be bringing the agreement up for a vote. It is pretty clear now that there is not a majority in either house to pass it. Still, it has not been killed with fire, and there are huge multinational corporations with hundreds of billions of dollars available for "campaign donations" to change their minds.

There are many Agendas in play and with all the news misinformation/errors admitted, I believe nothing and can't get excited about anything involving US politics these days.  The S _  _t filter is full!  I'm a war vet and left the US 20 years ago mainly because of the way us vets have been treated in the VA hospitals by the swamp, freak, creatures! I don't wish to live in a country whose business is perpetual war by manipulation. I prefer residing in countries whose income is earned through business.  Karma is a b _ _ _h and the U.S. will suffer from retribution/financial bubbles soon with all the open borders for all the evil that has been committed over the years worldwide in my opinion. If that happens, the current playbook will go in the trash! Any Country that does not protect its sovereignty is no longer a country.

[Kiwiken]

12 hours ago, Acharn said:

 

That was my understanding, as well. And the TPP was signed but has not been implemented because it  has not yet been ratified by any country's government. Well, I guess with some of the countries it would just be a formality. But, still, what's to change? By the way, I recall when President Obama was here pushing TPP was one of the things he was on about, and the governor of the Bank of Thailand took the extremely unusual step of writing an editorial in the Bangkok Post saying that there were secret provisions in the agreement that might not be in the Kingdom's best interest. 

Colombia,Phillipines, Thailand,Taiwan and South korea have expressed interest in joining. Indonesia has announced its intent to join. While China was not part of the negotiations and yes no one has yet ratified. Given Trumps intention to scrap US involvement I can see the other signatories plus those wishing interest signing up to some kind of composite agreement using parts of TPP and the Chinese scheme to make a broader free trade area which would include India making it the biggest single Trade bloc in the world. Trump can make what he likes in the USA hard to make money when you have no trade.

[chainarong]

Pardon but the TPP hasn't started so you are not dumping anything, nothing has been ratified, so what are you talking about, you have free trade agreements with most of the larger countries involved anyway, and another thing originally Thailand wasn't included........................................

[sirmud63]

17 hours ago, bark said:

Correct, they were not a member of this free trade agreement.

 

yep, and its because of there human rights record .

[sometimewoodworker]

16 hours ago, Acharn said:

 

That was my understanding, as well. And the TPP was signed but has not been implemented because it  has not yet been ratified by any country's government. Well, I guess with some of the countries it would just be a formality. But, still, what's to change? By the way, I recall when President Obama was here pushing TPP was one of the things he was on about, and the governor of the Bank of Thailand took the extremely unusual step of writing an editorial in the Bangkok Post saying that there were secret provisions in the agreement that might not be in the Kingdom's best interest. 

 

You are a bit out of date. Japan ratified the TPP almost 3 weeks ago, well before the election 

 

4 November, Japan votes to ratify TPP

Edited November 24, 2016 by sometimewoodworker
Link added

[bark]

4 hours ago, sirmud63 said:

yep, and its because of there human rights record .

Nope. It was because the General thought it was not important.

[Xircal]

Bearing in mind the vendetta Trump seems to be pursuing against Mexico, I wonder if the reason he decided to withdraw from the TTP is because Mexico was one of the countries that had signed up to it.

 

His additional threat to scrap NAFTA wouldn't achieve very much if the TTP was ratified since Canada had also signed up to it as well. Therefore it would be essential to pull the plug on the TTP before scrapping NAFTA.