Containers are transported at the Laem Chabang deep-sea port in Chon Buri province on April 25, 2024. (Photo: Nutthawat Wichieanbut)
The private sector is optimistic that new US tariffs will not have a major impact on Thai exports, though businesses are urging the government to expedite trade negotiations to enhance the country's competitiveness on the global stage.Starting from midnight US time on Friday, the Trump administration has imposed new tariffs of either 10% or 12.5% on goods from its top 60 trading partners, including Thailand, due to allegations of forced labour violations, according to US officials.
The tariff rates differ depending on the seriousness of forced labour allegations determined by the administration.
While most nations received a tariff rate of 12.5%, Cambodia, India, Indonesia and Malaysia are subject to a lower rate of 10%.
Poj Aramwattananont, chairman of the Thai Chamber of Commerce, said while Thailand faces a 12.5% tariff rate, most of its competitors have similar rates. As a result, the competitive landscape in the US market remains largely unchanged.
