Trade war’s positive and negative impacts on Thailand

BANGKOK, April 10 (TNA) -- The trade war between China and the United States has slight impacts on Thailand and creates both problems and opportunities, according to the government. Deputy Prime Minister Somkid Jatusripitak said local economists agreed that impacts would be slight because Thailand was a small country with a stronger economy. He predicted the local economy would grow by at least 4% this year. The country passed through its economic and political crises, so everyone including young people should join forces to support national and political development, Mr Somkid said. Commerce Minister Sontirat Sontijirawong said the China-US trade war could have impacts on steel and aluminum products. The US’s trade barriers against China might be beneficial to Thai products destined for the US including computer parts and hard disk drives, he said. Mr Sontirat also warned that Chinese products could hugely arrive in Thailand instead of the US. Veerathai Santiprabhob, governor of the Bank of Thailand, said the trade war would have indirect impacts as products from the countries facing trade barriers would turn to the Thai market. However, he also considered the trade war as offering opportunities for Thai exporters to sell products directly to China and the US. (TNA)