In the ongoing trade battles between the United States and China, one besieged front line runs through the factories, warehouses and ports of Thailand, the Washington Post reported. Under pressure to close tariff loopholes, officials in the Southeast Asian country are poring over receipts and cross-checking business registration documents from exporters who want to sell wire rods, steering wheels and hard disks to American buyers. They’re conducting spot checks at factories to verify that products claiming to be made in Thailand are genuinely manufactured in the country.
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Thailand’s central bank resumed cutting rates to help an economy beset by domestic instability and tariff headwinds, the Wall Street Journal reported. The Bank of Thailand’s monetary policy committee on Wednesday voted unanimously to cut its policy rate to 1.50% from 1.75%. The committee said monetary policy should be accommodative going forward to boost the economy. “At the same time, it is important to ensure macro-financial stability, while taking into account the limited policy space,” the BOT said.
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The United States has reached trade agreements with Thailand and Cambodia, Commerce Secretary Howard Lutnick said on Wednesday night, after President Trump had threatened to end talks with the two nations if they did not agree to a cease-fire to halt their military conflict, the New York Times reported. Mr. Lutnick did not provide details of the new tariff rate. In an interview with Sean Hannity on Fox News, he said: “And you know what we did today? We made trade deals with Cambodia and Thailand.” He did not elaborate.
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Thailand's cabinet gave its approval on Tuesday for Vitai Ratanakorn to take over as the next central bank governor and revive an economy in the doldrums with limited monetary policy room to work with, Reuters reported. The appointment of Vitai, 54, the president and CEO of the Government Savings Bank, would be subject to royal approval before he starts a five-year term on October 1. He was picked over central bank veteran and deputy governor Roong Mallikamas. Vitai would succeed Sethaput Suthiwartnarueput, who has reached retirement age.
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Thailand is considering offering zero tariffs on more U.S. imports, the finance minister said on Monday, Reuters reported. The government is also preparing 200 billion baht ($6.1 billion) worth of soft loans to ease the impact of tariffs, Finance Minister Pichai Chunhavajira told a business seminar. Thailand faces a 36% tariff from Washington if a deal cannot be reached before August 1.
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Thai Airways International could exercise an existing option to buy more planes from U.S. planemaker Boeing as part of Thailand's tariff negotiations with the United States, CEO Chai Eamsiri told a Reuters NEXT Asia summit on Wednesday, Reuters reported. The flag carrier in February last year said it had ordered 45 Boeing 787-9 wide-body jets with options for a further 35. Thailand has submitted a new trade proposal to the U.S. in a bid to avoid steep tariff hikes on its own products.
Thailand’s central bank held interest rates steady amid renewed political tensions at home and growing uncertainty abroad, the Wall Street Journal reported. The Bank of Thailand’s monetary policy committee voted six to one to maintain its policy rate at 1.75%, following two consecutive cuts. One member voted in favor of easing. Noting that its previous cuts have “already provided some cushion against the prevailing risks,” the central bank highlighted risks related to U.S.
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Thailand’s central bank makes its rate decision on Wednesday against a tense backdrop marked by political tension at home and uncertainty abroad, the Wall Street Journal reported. The exit of the second-largest party in Thailand’s ruling coalition has left Prime Minister Paetongtarn Shinawatra’s Pheu Thai Party hanging by a thread, amid calls for her resignation, analysts say. “Political uncertainty now casts a pall on an already weak economy,” Vishnu Varathan of Mizuho Securities said in a note, adding that it exacerbates the threat posed by ongoing tariff-related tensions.
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Thailand has reached a major aviation milestone as Thai Airways International triumphantly exits its court-supervised debt restructuring program after four challenging years, following official approval from the Central Bankruptcy Court in Bangkok, Travel and Tour News reported. This crucial court decision not only restores the national carrier’s financial stability but also paves the way for the resumption of trading on the stock market, renewed investor confidence, and Thailand’s strengthened position in the global aviation industry.
Thailand's economy is expected to encounter temporary "air pockets" due to the impact of tariffs, the finance minister said on Thursday, and the country plans to negotiate to align its tariffs more closely with those of its trade competitors, Reuters reported. "No matter how much the tariff will end up, if it is at an equal level and equal to our competitors, it will not affect us," Pichai Chunhavajira said at a ministry event. "With our proposal, we should be at a point where we would get what we want," he added.
Thailand is among Southeast Asian nations hardest hit by U.S.
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