0:00
0:00
US Tariff Concerns Rise as Thailand Enters Top Ten in Trade Surplus with the US
Data shows Thailand’s trade surplus with the US reached forty-one point five billion dollars from January to November, prompting warnings of potential economic impacts amid impending US tariffs.
Thailand’s trade surplus with the United States amounted to forty-one point five billion dollars between January and November last year, according to data from the Kasikorn Research Center (KResearch).
This increase moved Thailand from the twelfth position in 2023 to the tenth among nations with the largest US trade surpluses.
In comparison, China recorded a surplus of two hundred seventy point four billion dollars, followed by Mexico at one hundred fifty-seven point two billion dollars and Vietnam at one hundred thirteen point one billion dollars.
The United States has already imposed tariffs of twenty-five percent on imports from Canada and Mexico, and ten percent on imports from China.
In response to these developments, Thai Commerce Minister Pichai Naripthaphan traveled to the United States last week for discussions on trade tariffs.
The US remains Thailand’s largest export market, with exports valued at fifty-four point nine five billion dollars (approximately one point eight four trillion baht) in 2024, accounting for eighteen percent of total Thai exports.
Burin Adulwattana, chief economist at KResearch, stated that higher tariffs under the current US administration could reduce Thailand’s GDP by around zero point five percent and contribute to depreciation of the baht.
He noted that US trade and tariff measures are expected to become clearer from April first.
Additionally, Burin advised that Thailand should address domestic economic issues, reduce reliance on trade with any single country, and maintain a neutral stance between global economic powers.
This increase moved Thailand from the twelfth position in 2023 to the tenth among nations with the largest US trade surpluses.
In comparison, China recorded a surplus of two hundred seventy point four billion dollars, followed by Mexico at one hundred fifty-seven point two billion dollars and Vietnam at one hundred thirteen point one billion dollars.
The United States has already imposed tariffs of twenty-five percent on imports from Canada and Mexico, and ten percent on imports from China.
In response to these developments, Thai Commerce Minister Pichai Naripthaphan traveled to the United States last week for discussions on trade tariffs.
The US remains Thailand’s largest export market, with exports valued at fifty-four point nine five billion dollars (approximately one point eight four trillion baht) in 2024, accounting for eighteen percent of total Thai exports.
Burin Adulwattana, chief economist at KResearch, stated that higher tariffs under the current US administration could reduce Thailand’s GDP by around zero point five percent and contribute to depreciation of the baht.
He noted that US trade and tariff measures are expected to become clearer from April first.
Additionally, Burin advised that Thailand should address domestic economic issues, reduce reliance on trade with any single country, and maintain a neutral stance between global economic powers.
