Trade war and Thailand
US-China trade war and impacts on Thailand
US-China trade war and impacts on Thailand
Mazda's operation in Thailand has reduced its overtime payments for local workers as it production plan for this year decreased in line with lower exports and domestic sales, attributed to the US-China trade war.
More Chinese manufacturers are looking to Thailand as a production base to avoid US tariffs, based on trends in demand for the Southeast Asian nation’s industrial estates.
With the economy battered by external headwinds and domestic uncertainties, the latest stimulus package is touted as an elixir to prevent a spiral downward into a recession.
Economic ministers looking at a "relocation package" to attract foreign companies wanting to move production centres because of global trade tensions.
The tit-for-tat trade war between the US and China is likely far from over, but is unlikely to be spill over into a currency war, say trade analysts.
The tit-for-tat trade tariffs between the United States and China are expected to end in August 2020 because the US presidential election will be only months away at that time, says an economist.
The government is setting up a war room to deal with the impact of the ongoing trade war, hoping to boost exports and border trade as proposed by the private sector.
The Bank of Thailand stunned the market on Wednesday by following the lead of other major central banks with a 25-basis-point rate cut, the first rate decrease since 2015, in an effort to boost the economy.
China weakened the yuan on Monday, sparking fears of further escalation in the Sino-US trade war and leaving Thai firms worried that they would suffer further.
The SET index continued its plunge on Monday as investment appetite was eclipsed by China's retaliatory measures to counter the US's latest tariff threat.