Bangkok: The Thai Chamber of Commerce points out that the US tariff war is accelerating further, worsening the situation for Thai exports and the Thai baht.
According to Thai News Agency, the Chamber assesses that the US tariff policy is not yet over. Although the Supreme Court ruling affects existing measures, President Trump has increased global import tariffs from 10% to 15%, effective immediately. This reflects the use of tariffs as a strategic tool to pressure export costs and supply chains. The Chamber also warns of potential Thai baht volatility, which could further damage Thailand's competitiveness, and recommends that the government proactively negotiate trade agreements to address the uncertainties over the next 150 days.
Dr. Poj Aramwattananon, Chairman of the Thai Chamber of Commerce and the Federation of Thai Chambers of Commerce, assessed the situation regarding US tax policy as entering a period of increasing uncertainty following the US Supreme Court's ruling, which will affect previously announced reciprocal tariffs. However, the overall US trade policy remains in a transitional phase, and there is a possibility that new forms of tariffs will be implemented. This comes after President Trump announced an immediate increase in global import tariffs from 10% to 15%, further announced last night. This reflects that the US tariff game is not yet over, even though some previous measures have been lifted. The US administration is likely to continue using new tariff tools to pursue its economic and trade policies.
The announcement of the tax rate increase to 15 percent clearly signals that tax measures will continue to be used as a strategic tool, with impacts rippling across exporters and global supply chains, including Thailand.
Another important issue is exchange rate volatility. Economic uncertainty in the United States could increase the risk of a weaker dollar if the imposed taxes are actually reinstated. This could cause the Thai baht to appreciate against the dollar. Since most international trade still uses the US dollar, a stronger baht during a period of increased tax costs would significantly pressure the competitiveness of Thai exporters, especially those in low-margin industries. Therefore, it is necessary to closely monitor exchange rate trends in conjunction with tax measures.
The Thai Chamber of Commerce views three main pressures on Thai businesses: rising export costs, regulatory uncertainty affecting business planning over the next 150 days, and the accelerated restructuring of global supply chains, which increases competition and attracts investment in the region. The Chamber recommends that the government proactively pursue trade negotiations, clarify measures, and coordinate with relevant agencies to protect the interests of Thai businesses.
'The global trade market is in a period of rebalancing. Thailand should use this opportunity to upgrade its economy, build business resilience, and advance economic diplomacy to transform uncertainty into opportunities for long-term growth,' said Dr. Poj.