Connect with us

Business

Urgent meetings to consider impact of US-China trade war on Thai exports

Published

on

The Thai government is reacting quickly to perceived threats to the Thai export business by the ongoing US-China trade wars which have been ramped up in the past week by, firstly, US President Donald Trump rising the tariffs on a raft of additional Chinese items. Then China announced yesterday that it will impose tariffs on US$60 billion of US goods from June 1.

In response Thailand’s Deputy PM Somkid Jatusripitak called an urgent meeting of his economic team at Government House yesterday to assess the impact on Thai exports. The Deputy Commerce Minister Ms. Chutima Boonyapraphat was instructed to present the latest updates on the escalating trade war at the meeting, according to Thai PBS.

There is serious concern in Thai government circles that the deepening of the trade war between the world’s two biggest economies will seriously disrupt the global economy and impact Thai exports and tourism industry. The escalation is driving stock markets down, with the Dow Jones Industrial Average closing more than 600 points lower in yesterday’s trade.

US President Donald Trump warned China not to raise levies, but Beijing said it would not just swallow any “bitter fruit” that harmed its interests. China is raising tariffs on more than 5,000 US products, with the new rates ranging from 5%-25%. Items affected include beef, lamb and pork products, as well as various varieties of vegetables, fruit juice, cooking oil, tea and coffee.

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

The Thaiger is Thailand's largest online portal for news, videos and information.

Follow Thaiger by email:

Tourism13 mins ago

Tourism fee to go to Cabinet to enact or delay

Events13 mins ago

John Cena breaks world record for most wishes granted in foundation

Chiang Mai17 mins ago

Popular Chiang Mai waterfall closed due to flooding

Sponsored1 day ago

Starting a business and obtaining SMART Visa in Thailand is easy with Startup Booster

Hot News39 mins ago

WTO chief says world economy tipping towards recession

Cannabis News1 hour ago

Embassy warns citizens not to take cannabis from Thailand into Malaysia

World1 hour ago

NASA crashes DART spacecraft into distant asteroid

Join the conversation on the Thaiger Talk forums today!
Hot News1 hour ago

Thailand’s northeast braced as Typhoon Noru slams Vietnam

Thailand2 hours ago

Canadian gangster in Phuket killing faces death penalty in Thailand

Thailand2 hours ago

Amid flu fears, Thailand destroys 24 tonnes of smuggled pork

Thailand2 hours ago

Knife-wielding tuk tuk driver says he is the victim in brawl over passengers

Thailand2 hours ago

VIDEO: Nine cars in three days fly off ‘cursed’ road in eastern Thailand

Chon Buri3 hours ago

Crocodile found skinned on Chon Buri beach

Thailand3 hours ago

Politicians urged to wear Thai suits to save energy

Economy4 hours ago

Thai baht plunges to 38 against US dollar for first time in 16 years

Thailand4 hours ago

Naga Fireball Festival is coming to Isaan on October 10

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending