trade war

  • Thailand

    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

    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

    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

    The baht keeps surging – and other predictions for the Thai economy in 2020

    The last time the Thai baht’s value against theUSD touched 29 baht/US dollar was back in 2013. But the currency appreciation situation was quite different then. Today it’s floating around 30 baht in its 22nd year as a floating international currency. How will all that affect the Thai economy in 2020? Now the strong baht is a result of the…

  • Economy

    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

    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

    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

    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

    Asian stock markets mostly rise on positive news

    “China announced it would resume trade talks with the US in Washington next month.” Most Asian equities and currencies rallied today, building on the previous day’s advance as investors were cheered by a number of positive developments on trade, Hong Kong and Europe. Markets were already on an upward trajectory after the leader of Hong Kong withdrew a controversial extradition…

  • Economy

    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…

  • ASEAN

    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

    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…

  • Technology

    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…

  • Business

    Baht to climb higher against USD, more pressure on exports

    The Thai baht is set to soar further as one side effect of the latest escalation of the China-US trade war. Economists say the latest tit-for-tat trade sanctions will hasten foreign capital inflows into Thailand’s “safe haven” bond market while the US Federal Reserves may again cut interest rates, adding more fuel to the situation. Meanwhile the Thai export situation…

  • Business

    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…

  • ASEAN

    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…

  • Business

    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

    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…

  • Tourism

    Thailand to see rise in tourists as fallout continues in the US-China trade spat

    Thailand may end up being a beneficiary in the ongoing US-China trade spat as mainland Chinese tourists will decide to travel closer to home or could even find it difficult to gain entry into the US. The Tourism Authority of Thailand is monitoring the situation to see if Beijing blocks Chinese tourists from making trips to the US. The restriction…

  • Technology

    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

    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

    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…