China says it is ready to assist in Thailand-Cambodia border dispute
Wang said China would uphold an "objective and fair" position on the border dispute between Thailand and Cambodia, and hopes the two Southeast Asian countries will work to resolve the issue through friendly dialogue and consultation.
Wang spoke with Foreign Minister Maris Sangiampongsa in a meeting at the sidelines of the Asean Summit in Malaysia on Thursday.
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Bangkok Post
3 hours ago
- Bangkok Post
FTI mobilises data from 47 industrial groups to counter US tariff hike
The Federation of Thai Industries (FTI) is compiling data from 47 industrial groups for submission to the Ministry of Finance to initiate negotiations in a bid to reduce the retaliatory tariffs and protect Thailand's competitiveness in the US market. The Federation of Thai Industries (FTI) is is gathering data from industrial groups for the Finance Ministry to negotiate lower retaliatory tariffs and protect Thailand's competitiveness in the US of Form The FTI has voiced mounting concern over the United States' imminent enforcement of reciprocal tariffs targeting 22 countries, including Thailand, beginning Aug 1. In the federation's press release on Saturday, FTI chairman Kriengkrai Thiennukul said the federation is urgently gathering data from 47 industry groups to submit to the Ministry of Finance, with the aim of initiating negotiations to reduce the retaliatory tariffs and protect Thailand's competitiveness in the US market The urgency follows recent US trade deals with Vietnam and the United Kingdom, where tariffs were cut significantly. Vietnam saw its rates lowered from 46% to 20% for direct exports, and to 40% for transhipped goods under strict Chinese-origin control. The US also slashed tariffs on UK car imports to 10% for a quota of 100,000 vehicles per year and opened its market to British agricultural goods, raising concerns that Thailand may lose its competitive edge unless it secures similar reductions. Negotiations are still underway with China, the European Union (EU) and India. China is currently under a temporary tariff truce set to expire on Aug 12. Recent high-level talks between US and Chinese trade representatives in London concluded with a revised tariff structure: the US will maintain a 55% import duty on Chinese goods, down from 145%, while China will impose a 10% duty on US imports, reduced from 125%. However, the agreement awaits formal endorsement from US President Donald Trump and China's President Xi Jingping, with no official confirmation yet from Beijing. According to the first quarter of 2025 data, exports account for over 58% of Thailand's gross domestic product (GDP), with industrial goods comprising 47%. The FTI has warned that failure to reduce tariffs could inflate export costs, erode competitiveness and undermine investor confidence. The newly announced 36% tariff on Thai goods could result in export losses estimated between 800 billion and 900 billion baht. In May 2025, Thailand recorded export growth of 18.35% year-on-year, the highest in 38 months, reaching US$31.04 billion. However, the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) warned that without policy intervention, exports in the second half of the year could contract by over 10%, bringing full-year growth dangerously close to zero. Mr Kriengkrai said the FTI had discussions with the 47 industry groups and 11 clusters and is in the process of compiling detailed data. Some exporters are attempting to share the tariff burden with US importers and distributors, though this approach has not been universally accepted. He urged the government to push for a tariff reduction to 0% on thousands of affected items and to implement urgent support measures. Sectors hardest hit include machinery and components, electrical machinery—industries heavily reliant on the US market with 28–35% export share—as well as rubber, furniture, auto parts, toys, steel products, leather goods and ceramics. These are all classified as high to very-high risk under the new tariffs. To address the crisis and sustain Thailand's global competitiveness, the FTI outlined four key policy recommendations: 1. Relief measures for affected exporters • Low-interest loans or debt moratoriums. • Corporate income tax reductions for impacted exporters. • Subsidies or reductions in export-related costs such as port service fees, customs procedures, certificates of origin and utilities. • Triple tax deduction for legal expenses incurred in hiring US law firms to negotiate or research trade issues. 2. Market expansion initiatives • Accelerate negotiations of new Free Trade Agreements (FTAs). • Promote market diversification via small and medium enterprise (SME) pro-active programmes and trade missions. • Boost domestic consumption by expanding the 'Made in Thailand' (MiT) initiative: - All government agencies should prioritise MiT-certified products. - Tax incentives: Double deductions for MiT-related expenses. - MiT support enhances local content, brand strength, and allows firms to redeem rewards at year-end. 3. Promote local content usage • Enhance current Board of Investment's (BOI) incentives, including corporate tax cuts for firms using over 90% local content. • Boost productivity through technological upgrades and workforce development. 4. Exchange rate stability • Monitor and manage the baht to prevent excessive appreciation against regional currencies. 'This is an unprecedented crisis for Thailand,' said Mr Kriengkrai. 'The FTI is calling on all sectors to work together. With strong collaboration, we can transform this challenge into a turning point for national development and resilience.'
Bangkok Post
7 hours ago
- Bangkok Post
Chaikasem says talk on PM role still 'premature'
Chaikasem Nitisiri, the sole remaining prime ministerial candidate from the ruling Pheu Thai Party, yesterday reaffirmed his readiness to take up the role of prime minister but said it was still too early to seriously consider the matter. He was responding to reporters' questions regarding ex-premier Thaksin Shinawatra's recent remarks that there would not be a political deadlock and numerous options would still be on the table if the Constitutional Court rules against his daughter, suspended Prime Minister Paetongtarn Shinawatra, over a leaked phone call with Cambodia. Either Mr Chaikasem would be nominated for the role, or the House of Representatives would be dissolved, Thaksin said in comments marking the 55th anniversary of the Nation Group this week. Mr Chaikasem said there had been no discussions with Thaksin about stepping in and that such speculation was premature. Thaksin is touted as the de facto leader of Pheu Thai. Mr Chaikasem insisted he was in good health and was ready to serve the country while expressing confidence there would be no political impasse as the country has weathered multiple political storms. Ms Paetongtarn has been suspended pending a ruling on her call with Cambodia's Senate President Hun Sen during which she disrespected the Thai army. Sorawong Thienthong, secretary-general of Pheu Thai, said the party was hopeful Ms Paetongtarn, also the party leader, would be allowed to continue as premier. People's Party (PP) list-MP Rangsiman Rome urged all parties not to race into a deadlock, saying that dissolving the House to return the mandate to the public would be the best solution. He also criticised Thaksin for portraying the PP as "frightening", adding that what was truly frightening was running the country while thinking only of personal gain and staying above the law.
Bangkok Post
8 hours ago
- Bangkok Post
Can Pheu Thai retain its grip on power?
Thaksin Shinawatra reappeared in politics after a conspicuous absence following the leak of the phone conversation between his daughter, Prime Minister Paetongtarn and former Cambodian PM Hun Sen. He expressed confidence that Ms Paetongtarn, who has been suspended from duty as prime minister over the content of the controversial telephone call, will survive the ongoing crisis. But this was always going to be wishful thinking. While speaking on a chat show, the Pheu Thai Party's de facto leader likened the suspension of Ms Paetongtarn, pending a court ruling, to that of Gen Prayut Chan-o-cha, saying the latter was later acquitted. And in his view, this might also be the case for his daughter. Besides, Thaksin has confidence that Thai politics will not experience a deadlock as long as he is around. Political pundits, however, envisage the opposite scenario for Ms Paetongtarn, who is currently serving as culture minister. The Constitutional Court is expected to hand down a ruling against her in a month or two. In fact, the Pheu Thai Party cannot afford to be so optimistic regarding Ms Paetongtarn's political future. It is involved in a tough game with Bhumjaithai, a friend turned foe, which is pushing for Anutin Charnvirakul to take the political baton as "interim prime minister" in accordance with a proposal drawn up by the People's Party. Pheu Thai's immediate plan is to pass the torch to Chaikasem Nitisiri, the party's third prime ministerial candidate, who has regained his strength after a long illness. Mr Chaikasem, now 76 years of age, told the media he's ready for the top job when the time comes. It could be said that all political parties foresee a political scenario without Ms Paetongtarn. Pheu Thai has to accept the hard fact that the party, with its slim majority, is politically vulnerable. Even if Mr Chaikasem eventually assumes the role of PM, he may not be able to stay in power for long, particularly if and when financial bills are shot down, as this would mean the government would have to resign. Coming into the picture is the idea of "interim prime minister". This idea was coined by the People's Party as a way out of the political impasse if Ms Paetongtarn is removed from office. Surprisingly, the opposition bloc leader said, while insisting it will stay out of a new coalition, said it will vote for any party that accepts its conditions: dissolving parliament by end of the year after the approval of 2026 budget, and proceeding with charter amendment, especially setting the groundwork for the formation of a charter drafting panel. Under the People's Party's conditions, the interim PM must ensure that poll ballots include a referendum question on whether voters approve the charter panel's bill. Given its surging popularity, the People's Party is the only one that is ready for snap elections. Besides, the interim government plan could prevent political intervention in case of Ms Paetongtarn's downfall, referring to Section 5 of the 2017 charter. This enables the palace to appoint an outsider prime minister if and when the country faces political deadlock. Under that scenario, therefore, there is speculation that Gen Prayut, who is now a privy councillor, may make a political comeback. Lest we forget, the former junta leader still retains his position as a PM candidate for the United Thai Nation (UTN) Party. Another form of intervention, a coup d'etat, is even more worrisome. The People's Party concedes that it is in talks with Bhumjaithai to see the proposal being translated into reality. But the chances are almost nil. This is because even if the two parties enter into an alliance, they will still need around 40 MPs to secure the premiership for the Bhumjaithai leader. But three parties in the coalition, namely UTN (36 MPs), Democrat (25 MPs), and Chart Thai Pattana (10 MPs), which have received rewards from Pheu Thai in the form of cabinet seats appear to favour the status quo, thus, they see no benefit in the interim government proposal. Not to mention that the coalition parties are waiting for another bonus if Ms Paetongtarn is replaced with Mr Chaikasem, which would mean Pheu Thai would need to form a new cabinet again. In this case, they would get a chance to optimise demands for cabinet seats like in the previous reshuffle that saw micro parties, or even political factions with only 3-4 MPs, get big slices of the reshuffle cake. Pheu Thai would have to make sumptuous offers again to ensure no parties shift to Bhumjaithai. Moreover, since the lawsuits against Thaksin over the extended hospitalisation known as the "14th-floor saga" and against his daughter for "Hun Sen-gate" will soon be wrapped up, it's necessary for Pheu Thai to cling on to power at this crucial time. It's an open secret that Bhumjaithai finds changes to the constitution an unfavourable option. Undeniably, it is the current charter that opened the door for the much-criticised senatorial vote in which candidates who are believed to have affiliations with Bhumjaithai entered the Upper House in droves. It will come as no surprise if the Senate throws cold water on charter amendment proposals. Besides this, the requirement for three referendums, as suggested by the charter court, would in effect stall the amendment efforts. At the same time, even if Bhumjaithai and the People's Party can push the interim PM proposal, tight scrutiny by the latter would make Mr Anutin uncomfortable. Instead, as the Pheu Thai-led administration is unlikely to last long, the Bhumjaithai leader would rather wait for the next election when he has a better chance to become prime minister. Last but not least, we must not forget that Pheu Thai still has House dissolution as its trump card. If other options seem not to be working, the party would rather start afresh instead of seeing Bhumjaithai rise to power. By dissolving the House, the ruling party could retain its grip as a caretaker government for around two months and grasp whatever opportunities come its way.
