US President Donald Trump’s order for a comprehensive study to identify every form of “trade abuse” that contributes to US deficits with foreign countries will have no significant impact on Thailand, the Thai finance minister believes.
Comment from Finance Minister Apisak Tantivorawong came as there is growing concern among the private sector that the US President’s initiative will surely affect Thai exports.
But Mr Apisak said Thailand enjoyed very small amount of trade surplus with the US.
Therefore he believed that the US would hold talks with the Thai government on the US trade imbalance before enforcing it’s order.
President Trump signed two executive orders last Friday directing his administration to review the country’s trade deficits and clamp down on countries that abuse trade rules.
Thailand is among 16 countries to be targeted by the US administration in its attempt to narrow the United States’ massive trade imbalance.
Mr Apisak said the US would hold bilateral talks with Thailand and with other countries including China over the matter.
But he was if the US has imposed any trade barrier against China, it would affect Thai industries, particularly electronics, textile and garment.
He added that the countries which faced the US measures would suffer similar higher cost.
Source: Thai Public Broadcasting Service (Thai PBS)