Thailand girds itself for Trump trade war
While US tariffs on imported steel may not hit the local market directly, these measures could be just the opening salvo in the 'America First' battle.
A long-standing ally of the US, Thailand has seen its steel industry rattled by a looming trade war as President Donald Trump's rhetoric on slapping hefty tariffs on steel imports has morphed into reality.
As an attempt to comply with his campaign pledge to "Make America Great Again", Mr Trump recently approved protectionist trade measures on the grounds that the US had suffered from "unfair trade" and that the tariffs would boost the US industry.
The imposed import duties -- 25% on steel and 10% on aluminium -- will go into effect within two weeks, though Canada and Mexico are exempt as negotiations continue over the North American Free Trade Agreement.