trade war
- Business News
Thailand’s economy feels the squeeze as Q3 wraps up
Thailand’s economy is under severe strain, grappling with both internal and external pressures as the end of the third quarter looms. The kingdom is fighting to stabilise its financial footing while China, a vital trading partner, wrestles with its economic troubles. The Thai baht took a hit earlier this month, mirroring the ongoing turmoil in the world’s second-largest economy. The…
- Business News
Thailand poised to profit amid US-China trade war
Thailand might be about to cash in on the US-China trade war. According to the Office of Industrial Economics (OIE), the ongoing clash between Washington and Beijing could see a major boost in Thai exports as American buyers look to replace Chinese shipments that are in jeopardy. OIE Director-General Warawan Chitaroon stated that Thailand is a key manufacturing nation in…
- Business News
US imposes major tariffs on Chinese EVs and semiconductors
The United States recently imposed substantial tariffs on Chinese products, focusing particularly on electric vehicles (EVs) and semiconductors. This move is expected to push China to expand its EV manufacturing within Asia, with Thailand emerging as a significant export hub, according to the Federation of Thai Industries (FTI). President Joe Biden’s administration cited Beijing’s unfair trade practices as the reason for…
- World News
China investigating ministry member for alleged CIA espionage
China’s state security ministry has launched an investigation into a 39 year old Chinese national, identified only by his surname Hao, over allegations of espionage on behalf of the United States Central Intelligence Agency (CIA). Hao, who once held a position at a ministry, was reportedly recruited while studying in Japan. This development comes less than two weeks after another…
- Politics News
China bans US Micron chips, escalating global chip industry risks
China’s recent ban on certain sectors using chips from United States-based Micron Technology has highlighted the potential risks faced by the global chip industry amidst rising Sino-US trade tensions. The move against Micron, the largest US memory chipmaker, is widely perceived as retaliation for Washington’s attempts to limit Beijing’s access to crucial technology. This comes as the Group of Seven…
- World News
Thailand News Today | The RCEP reset, Hotel Talkfest, Protesters to be arrested | November 16
First day of the week with another Thailand News Today, all the latest news from around Thailand and the region. Hoteliers to discuss how to revive Thailand’s crippled hospitality industry The Tourism and Sports Ministry is holding a talkfest with15 hotel operators expected to join to discuss recovery solutions for the battered industry. Some top executives are planned to pitch…
- Economy News
Local markets in Asia retreat as US President Trump talks up revised trade war
Steep losses are the order of the day as local markets follow the lead from a sell off in New York after US President Trump foreshadowed a new round of trade sanctions on China. The US President and his Secretary of State Mike Pompeo have openly accused the Chinese government that the Covid-19 started in a lab in Wuhan, and that…
- World News
The US and China sign Phase One of new trade agreement today
The United States and China are poised to sign a trade truce today after a protracted trade spat that has impacted both countrys’ economies and shaken spread unease through world trade links. Both sides describe the result of the ‘Phase One’ agreement as ‘hard fought’. The signing signals a fragile truce and a prickly period of reconciliation between the world’s two…
- Economy News
Focus back on US-China trade talks – Asian markets rise
“A large percentage of the market thinks China may roll the dice and take advantage of what they think is Trump’s weakened political state.” Asian markets rise today as investors resume their focus on the next round of China-US trade talks this week. But hopes for success are being tempered by mixed messages from both sides of the table. There has been…
- Business News
Large Thai business feeling the effects of US-China trade war, rise of the baht
So what do Thailand’s big banks say? The ongoing US-China trade war and the appreciation of the Thai baht against other currencies is now starting to impact larger corporates in Thailand. Wasin Saiyawan, senior executive vice president and chief of wholesale banking at Siam Commercial Bank says, that although large businesses are resilient to any impact and their ability to…
- World News
US trying to make ‘meaningful progress’ in US-China trade negotiations
PHOTO: CNBC by Heather Scott US trade negotiators want to make “meaningful progress” in upcoming talks with China, according to Treasury Secretary Steven Mnuchin, one day after conciliatory gestures by both sides boosted hopes of an eventual resolution. The slugfest between the world’s two largest economies has cast a shadow over global economic growth with both Chinese and US economies…
- World News
China’s exports fell last month in lead up to next month’s trade talks
China’s exports fell 1% on-year last month amid the bruising trade war with the US that is disrupting markets in the world’s top two economies. The drop comes after a surprise 3.3% rebound in July despite the year-long battle with the US and weakening global demand. But economists cited by Bloomberg had forecast a 2.2% rise ahead of the release of…
- Economy News
Thai economic committee warns about stagnant growth in second half of 2019
The Joint Standing Committee on Commerce, Industry and Banking says they’re concerned by threats to the performance of the Thai economy in the second half of this year. The office says the lack of stimulating factors and the project of an ever-stronger baht will stifle economic expansion and the economy will fail to reach targets. The JSCCIB President Preedee Daochai…
- World News
Thailand industrial property a winner as US-China trade war drags on
Amongst all the bad economic news, Thailand’s industrial property sector is profiting from the protracted US-China trade war, as mainland Chinese manufacturers shift production to ASEAN countries in an attempt to avoid escalating tariffs. Chinese foreign direct investment into the south east Asia sector rose last year by 31.7% to USD 233 million, after declining by 15.7% in 2016-17, according…
- Business News
World economy wakes up to a day when the US has imposed new tariffs on China
The US has rolled out new tariffs on Chinese products yesterday but some economists say the latest gamble is likely to backfire and hurt the US economy. Meanwhile they predict the ramping up of the tariff ti-for-tat will not tarnish China’s resilience or dampen development in the long run. Yesterday the US administration imposed 15% additional tariffs on about half…
- World News
Google moves manufacture of Pixel phone from China to Vietnam
Google is shifting the manufacturer of their Pixel smartphone from China to Vietnam. The move is said to happen before the end of this year, as reported by Nikkei. Google cited increasing Chinese labour costs and added pressure from tariffs in the ongoing China-US trade spat. The US-based internet giant is reported to be moving both the manufacturer of its…
- World News
US and China ramp up the rhetoric and the tariffs in a day of tit-for-tat
Beijing has unveiled a new round of retaliatory tariffs on the US valued around US$75 billion. China will now place additional tariffs of 5%-10% on US imports starting next week. The tit-for-tat trade war between the world’s two largest economies is causing widespread disruption to supply chains and long-held trade conventions. China’s Finance Ministry says they will also resume tariffs on…
- World News
US-China trade war accelerates formation of RCEP trade bloc
The escalation of the trade war between China and the US might help push forward negotiations of the Regional Comprehensive Economic Partnership (RCEP) free trade agreement. RCEP, once formed, will be the largest trading bloc in the world. Trade ministers from China, India, Japan, South Korea, Australia, New Zealand and the 10 ASEAN member states met in Beijing last weekend for…
- World News
UPS says Thailand and Indonesia cargo traffic are winners in trade war
Supply chains are quickly adapting to the US-China trade war and Thailand, Indonesia and Japan are the biggest growth markets in Asia for UPS, according to the American international package delivery and global logistics service. UPS’s COO Jim Barber says there is no question that cargo volume from China to the US has significantly decreased but, with some manufacturers moving…
- Business News
Thailand’s export growth expectations revised down to just 3% in 2019
“Export trends are aligned with global sentiment and the outlook for other Asian countries, making export prospects murky because of the escalating trade war.” The government is massively revising down their export growth targets to just 3% this year from an earlier 8% growth estimate. Deputy PM Somkid Jatusripitak is blaming the global economic slowdown, the ongoing trade spat between the…
- Technology News
US temporarily ease restrictions on Huawei
PHOTO: Huawei’s founder Ren Zhengfei and Chinese President Xi Jinping – SCMP The US has temporarily eased some of the restrictions on China’s Huawei, the world’s largest phone and telecom equipment maker, to minimise disruption to its customers. But Huawei’s founder, Ren Zhengfei, says it means little because the company was well prepared for any US restrictions to their trading. The…
- Business News
Urgent meetings to consider impact of US-China trade war on Thai exports
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…
- Business News
Thailand slashes 2019 exports estimates as trade war escalates
by Phuwit Limviphuwat Thai exporters are expected to pay a heavy price as the ramping up of the US-China trade war continues. The US has now launched a new round of tariffs on Chinese imports. Last Friday US President Donald Trump tweeted: “Talks with China continue in a very congenial manner, there is absolutely no need to rush, as Tariffs…
- Thailand News
How Thailand became a casualty in the US-China trade war
from South China Morning Post and AFP About one third of all the rubber in the world comes from Thai forests, many in the southern regions. But a sudden drop in Chinese demand has compounded a longer term global oversupply crisis to push prices off a cliff. Countries like Vietnam are benefiting as manufacturers migrate from China to avoid punishing tariffs…
