PM Prayut not worried about Trump trade policies

[webfact]

PM not worried about Trump trade policies
By   THE NATION 

 

PM Prayut

 

BANGKOK: -- THAILAND should remain calm about new US trade policies, Prime Minister Prayut Chan-o-cha said yesterday, adding that he has assigned relevant ministries to study the issues. 

 

He also noted the 180 years of relations between the two countries. 

 

Also yesterday, Deputy Prime Minister Somkid Jatusripitak briefed ministers at the weekly Cabinet meeting on key trade issues between Thailand and the United States, a major trading partner, according to a source. 

 

Potential issues that the US could raise with Thailand were protection of intellectual-property rights (IPR), alleged manipulation of the baht, and the arms trade, the source quoted Somkid as saying. 

 

The government and the private sector are bracing for impacts after US President Donald Trump vowed to punish countries that have trade surpluses or committed trade abuses against the United States. 

 

Trump signed a pair of executive orders on Friday aiming at reducing the trade deficit just a few days before he holds his first meeting with his Chinese counterpart Xi Jinping. 

 

One of the orders gives the US Commerce Department 90 days to make a report on the factors behind the trade deficit, while the second seeks to increase the collection of tariff duties on imports.

 

Somkid reportedly is not worried about the IPR issue as the government has been moving fast to firm up legislation on this, and Prayut has even used his sweeping power as junta head under Section 44 of the interim constitution to accelerate the campaign against IPR violations. 

 

The amended law would also allow the fast-tracking of patent approvals. 

 

Somkid also said that if the government purchased arm from the United States instead of Russia or China, it would contribute to good trade relations with Washington, according to the source. 

 

Boonyarit Kalayanamit, director-general of the Department of Trade Negotia-tions, said he had met with senior officials from US Trade Respresentative to discuss liberalisation of agricultural products and other trade issues. 

 

USTR officials had voiced concerns over the slow progress in the fight against violation of intellectual property rights and the low process of patent granting, according to informed source. 

 

Thailand’s trade surplus with the US was worth US$19 billion (Bt654 billion), ranking 11th among the top 15 countries last year. The biggest surplus was China’s at $347 billion, followed by Japan’s $69 billion and Germany’s $65 billion. Among Asean countries, Vietnam enjoyed a $32-billion trade surplus and Malaysia $25 billion, according to the US Census Bureau.

 

However, Don said the government had to brace for the consequences of US policy, and added that the relations between the two countries had many dimensions, including trade, investment, security and culture.

 

Source: http://www.nationmultimedia.com/news/business/EconomyAndTourism/30311320

 

-- © Copyright The Nation 2017-04-05

[webfact]

Thai PM says "don't worry" about U.S. trade policy yet

By Aukkarapon Niyomyat and Orathai Sriring

REUTERS

 

Thailand's Prime Minister Prayuth Chan-ocha gestures in a traditional greeting as he arrives at a weekly cabinet meeting at the Government House in Bangkok, Thailand, April 4, 2017. REUTERS/Chaiwat Subprasom

 

BANGKOK (Reuters) - Thailand's prime minister said on Tuesday he had told officials to prepare for changes in U.S. trade policy under President Donald Trump, but it was too soon for the big exporter to worry.

 

As in other Asian countries which run large trade surpluses with the United States, concern has spread in Thailand since Trump last week said he had ordered a study of the causes of U.S. trade deficits.

 

"We should take it easy as there are no formal words about that yet," junta leader Prayuth Chan-ocha told reporters.

 

"I have asked deputy prime ministers and relevant agencies to look into it as we have to be prepared ... but don't worry too much about that now."

 

Thailand ran a surplus of about $18 billion in trade with the United States last year, the Thai commerce ministry says.

 

That puts it 11th globally - well behind China's $347 billion surplus or even nearby Vietnam's $32 billion - but the United States is Thailand's biggest export destination at a time the military government is struggling rekindle growth.

 

At a meeting in Bangkok on Monday, a senior U.S. trade official set out the Trump administration's trade agenda, the Office of the United States Trade Representative said.

 

Topics of discussion included "barriers to U.S. exports to Thailand related to customs, agriculture, intellectual property, labour, financial services, and other issues," it said.

 

Commerce Minister Apiradi Tantraporn said the ministry would meet businesses this week to discuss the potential impact of Trump administration policies, but it was sticking to its export growth target of 5 percent for now.

 

Thailand's top five export goods to the United States last year were computers and computer parts, rubber products, jewellery, radio and television receivers, and automobiles and parts.

 

Exports, one of Thailand's few drivers of growth, are just starting to recover. They rose slightly in 2016 after three years of contraction and were up 2.5 percent from a year earlier in the first two months of this year.

 

The central bank last week raised its 2017 export forecast to 2.2 percent rise from no growth and upgraded its economic growth outlook to 3.4 percent from 3.2 percent.

 

Southeast Asia's second-largest economy expanded 3.2 percent last year.

 

(Reporting by Aukkarapon Niyomyat and Orathai Sriring; Editing by Matthew Tostevin and Clarence Fernandez)

 

-- © Copyright Reuters 2017-04-05

[rkidlad]

Of course not. He's more worried about what students are doing on Facebook and getting angry with Thais who ignore laws because they're not enforced properly by the police. 

 

Trumps policies? A withering economy only affects the poor - and the poor are happy........apparently. 

[Nigeone]

He should be worrying big time !! Especially if they go to town on fake goods and software as part of the measures... If Trump applies the same trade sanctions as Thailand does there in big trouble 

[sharecropper]

1 hour ago, Nigeone said:

He should be worrying big time !! Especially if they go to town on fake goods and software as part of the measures... If Trump applies the same trade sanctions as Thailand does there in big trouble 

 

I hope so. Some pressure on political prisoners would be good too.

[yellowboat]

The worst that can happen is that fairness will be demanded.  Thai products will either have to endure higher tariffs or they will have to allow more imports.  Freer trade would be preferable on the part of Thailand. 

[Destiny1990]

I hope it brings down the price of imported cheese and other imported foods here.

[Jimbo2014]

32 minutes ago, Destiny1990 said:

I hope it brings down the price of imported cheese and other imported foods here.

Highly unlikely - tariff wars tend to have a negative impact for the consumer, an indirect form of taxation.

[JAG]

Of course he is not worried. He gets his tanks from China now...

[Thaidream]

Trump will not push Thailand on elections or any of the things the Obama Administration did.  Trump will make his deal with Thailand based pon the fact that Thailand has military bases that America will use as it ups the pressure on North Korea and china. A $19B trade deficit is peanuts compared to what the US will gain in defense deals and accessibility to bases.

[trainman34014]

He would only be worried if it was going to effect his bank balance and that's not going to happen.   The US and Europe need to put Thailand in a big squeeze and demand, not ask, for much freer trade and equal opportunity for Foreign citizens living here.   Will never happen though as Politicians are weak kneed and generally don't give a toss about their fellow countrymen....only at election time !

[robblok]

1 minute ago, JAG said:

Of course he is not worried. He gets his tanks from China now...

He should be worried (if this really happens). People can accept a junta with strict laws without much problems as we have seen. But if they are hurt in their wallet things can turn ugly quite fast. Just look at how people are against the new pickup rules.. that hurts them in their wallet.

 

So Prayut should worry, if Thrump really does put some restrictions up. It could screw the Thai economy big-time. Now its still growing but if things go down ... then wait for the bomb to go off.. especially with hospitals having no funding but there is funding for tanks and subs.

[Lupatria]

7 hours ago, webfact said:

Somkid reportedly is not worried about the IPR issue as the government has been moving fast to firm up legislation on this, and Prayut has even used his sweeping power as junta head under Section 44 of the interim constitution to accelerate the campaign against IPR violations. 

I wonder when was the last time these guys left the rat infested restaurants at parliament house to stroll down the dirty streets of Bangkok with vendors selling all kinds of faked items next to a police checkpoint with officers fleecing farrangs for "littering".

[sawadee1947]

"We should take it easy as there are no formal words about that yet," junta leader Prayuth Chan-ocha told reporters.

 

Don't worry, you can't read it anyway.....

[mettech]

I love fake items from china i use it once and trow it away when done with it.

[55Jay]

His words belie the truth.  He is worried because he doesn't understand all this (not that I do either), so he downplays,  no big deal, look at me, I'm so calm.....  then convenes a commission to tell him what in the hell it all means, and how bad it's going to get if the Muricans decide to  quit being generous idiots with deep pockets.   I'm OK Jack, as long as Trump keeps his hands off my stack.  Don't worry, be happy.

 

This is also about relationships.  And attitude. 

 

Prayuth has been a bit too boastful about his deals with the new GF, China.  The US may downplay but surely have taken notice of it, and Prayuth's attitude; almost rubbing their noses in it.  I would think he regrets that and is worried, hence the mealy-mouthed, disingenuous cliche about what great, long time pals Thailand and the US are.  

Edited April 5, 2017 by 55Jay

[55Jay]

 

[Chris Lawrence]

Trump more interested in the pingpong girls. Not sure he knows who the General is?

[11223344]

Why should be P worried? He is the most powerful man on earth after all.

[jadee]

The real reason P isn't worried is that everything Trump tries to do either fails or is blocked. Travel ban 1 = blocked, travel ban 2 = blocked, Healthcare bill = withdrawn etc. Trump declared an end to the 'war on coal' and US energy companies have basically ignored him as state rules still apply. Now comes these two executive orders on international trade - Trump walked out without signing them at his own photo opp. It doesn't bode well. Political satire is dead - reality is stranger than fiction. I don't agree with people who say Trump is a liar, I think he genuinely just doesn't know very much about the things. When it comes to trade policies, and trade deficit, does Trump know that 40% of Chinese exports are actually US firms who have factories in China? I don't think he knows this. 

[anon4546543]

The US has dumped Thailand as a useful stooge (no more American war in Asia after US got turfed out) and as such Thailand turns to more stable countries to do deals with. China is far more subtle than the US and that is the Asian and Thai way. The US is still thinking that it can bully every "inferior" country, it does not realise that mostly around the world "it is on the nose". This post is not an attack on US individuals, it is about stupid US huffing and puffing.

I noted the warm exchange between Trump and the military ruler of Egypt. They agreed to concentrate on things that were of mutual importance rather than the US trying to impose its moral flawed code on Egypt. This is what the US needs to do more of, cease sticking Your Moral Code and beak out of other nations domestic affairs