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The Star
05-07-2025
- Business
- The Star
Thailand to rework trade proposals before the US tariff deadline
Image from The Nation Thailand/ANN BANGKOK (Bloomberg): Thailand will refine its trade proposal framework as it races to secure a reciprocal tariff deal with the US before the deadline next week, according to Finance Minister Pichai Chunhavajira, adding that the country's first ministerial-level talks went well. Thailand received valuable feedback to its proposals submitted earlier from US officials, and the talks helped boost Washington's confidence in the two countries' economic partnership, Pichai said in a recorded video posted on his X account on Friday, while in transit from the US back to Bangkok. Thailand was able to understand better what the US wanted after he met with US Trade Representative Jamieson Greer and Deputy Secretary of Treasury Michael Faulkender on Thursday, Pichai said. He also met with US companies with longstanding investments in Thailand, as well as groups in the agricultural commodities sector. "Talks went well, and the US thanked Thailand for our enthusiasm in the talks,' Pichai said in the video. "We said we'd take the feedback today to rework our proposals for our mutual benefits.' Although talks have not yet concluded, Thailand still wished to come to an agreement that is "actionable, sustainable and mutually beneficial,' Pichai said. Thailand - threatened with a 36% tariff on its goods - previously pledged to cut levies on US goods, removal of non-tariff barriers, tighten origin rules and more imports of farm goods and LNG to narrow the trade gap. The US will likely start notifying trading partners from Friday of the new tariffs on their exports to the North American country, which will take effect from Aug. 1. President Donald Trump announced a deal with Vietnam earlier this week, with Vietnam getting a 20% tariff on its exports to the US and a 40% rate on goods deemed transshipped through the nation. The talks came days after a court suspended Thai Prime Minister Paetongtarn Shinawatra until it ruled on a petition alleging ethical misconduct, deepening a political turmoil that began with her handling of a border dispute with neighbouring Cambodia. Before the talks, Pichai said Thailand was pushing for a win-win trade deal with the US. The South-East Asian nation has also outlined plans to cut its trade gap with the US by as much as US$15 billion annually with its initiatives to prevent the misuse of origin rules for exports. The US was Thailand's largest export market last year, accounting for about 18% of the country's total shipments. The country posted a trade surplus of almost $46 billion with Washington in 2024. Securing a lower US tariff rate is seen as key to shielding trade-reliant Thailand's economy from further downside as it's already squeezed by the highest household debt level in the region and sluggish consumption. Thai officials have estimated that tariff levels of 36% could shave of at least one percentage point of gross domestic product this year. Thailand's exports have surged about 15% in the first five months of the year, driven by front-loading of orders following a 90-day pause in high tariffs proposed by the Trump administration. --With assistance from Pathom Sangwongwanich and Suttinee Yuvejwattana. -- ©2025 Bloomberg L.P.
The Star
11-06-2025
- Business
- The Star
Asean nations brace for Trump tariffs with bold stimulus packages
- Illustrative photo: The Nation/ANN BANGKOK: Southeast Asian nations are rolling out ambitious economic stimulus measures as they prepare for the potentially far-reaching impact of President Donald Trump's trade protectionism. Countries including Indonesia, Thailand, Malaysia, and Vietnam are initiating substantial spending programmes, aiming to safeguard consumer purchasing power and spur growth, even as they acknowledge the associated risks of escalating national debt and potential cuts to government revenue. According to Nikkei Asia, countries across the region are swiftly implementing what are being termed "large-scale economic stimulus measures" to counter the widespread effects of Trump's proposed tariff hikes. In Indonesia, President Prabowo Subianto's government has unveiled a colossal 24.44 trillion Rupiah (approximately US$1.30 billion) stimulus package. This marks a significant pivot from earlier plans this year to slash 306 trillion Rupiah from the budget, initially earmarked for a free school lunch programme. As part of the new initiative, around 18 million predominantly low-income citizens are set to receive 300,000 Rupiah in cash aid in June and July, alongside a monthly allocation of 10 kilograms of rice. The government is also planning substantial reductions in public transport fares, including a 30% cut for train tickets. Indonesian Finance Minister Sri Mulyani Indrawati stated that these measures are designed to preserve citizens' purchasing power and promote economic expansion. Indonesia has recently grappled with the effects of fiscal austerity, with its Gross Domestic Product (GDP) growing by a mere 4.87% year-on-year in the first quarter – its weakest performance since Q3 2021 – attributed to declining middle-class consumption. The capital, Jakarta, has also seen hotel occupancy rates plummet by over 90% from pre-pandemic levels, while infrastructure spending has been significantly curtailed, leading to delays in highway construction projects. Elsewhere in the region, Singapore has revised down its GDP growth forecast for the current year to between 0% and 2%, a decrease from its earlier projection of 1% to 3%. Thailand has similarly adjusted its GDP estimates downwards, now projecting growth between 1.3% and 2.3%, a drop from its previous forecast of 2.3% to 3.3%. Last month, the Thai cabinet approved a 157 billion baht (approximately US$4.19 billion) budget to boost tourism and fund infrastructure projects like railways and roads. To secure funding for this package, the government has taken the decision to partially postpone its controversial 10,000 baht digital money handout scheme. Economists in Thailand are wary, as the nation's household debt approaches 90% of GDP, fearing that further stimulus could exacerbate debt levels and restrict the government's policy flexibility. In Malaysia, Prime Minister Anwar Ibrahim announced a RM1.5 billion (approximately US$317.5 million) support package in May, aimed at assisting small and medium-sized enterprises through low-interest loans and government-backed credit guarantees. Meanwhile, Vietnam is considering extending its Value Added Tax (VAT) reduction for an additional 18 months beyond its scheduled June expiry. However, concerns have been raised that prolonging the tax cut could negatively impact state revenue. - The Nation/ANN
The Star
09-06-2025
- Business
- The Star
Thailand continues to tighten border security as a precaution amid ongoing tensions with Cambodia
Image from The Nation Thailand/ANN BANGKOK (Bloomberg): Thailand's top army official designated commanders of two task forces to oversee border crossings with Cambodia as tensions simmer following a skirmish in late May. Effective from Saturday, the Burapha and Suranaree task forces have been authorized to determine necessary measures at border checkpoints, according to a statement signed by Army Chief Pana Claewplodtook. The nations are looking to defuse tensions following an exchange of gunfire between troops on May 28 in the disputed Chong Bok border region, which resulted in the death of a Cambodian soldier. The countries are set to hold talks at a Joint Boundary Commission meeting on June 14 in Phnom Penh, Cambodia's capital. While the task forces must consider the needs of trade and daily lives of the local populations of both countries, "they may order the closing or opening of any or all border checkpoints under any conditions or time frame deemed appropriate' to protect Thailand's sovereignty, the army said in its statement. The move follows comments from Defense Minister Phumtham Wechayachai that border tensions have been exacerbated by Cambodia's reinforcement of its military presence. As a result, Thailand has "deemed it necessary to implement additional measures and to reinforce our military posture accordingly,' he said. Meanwhile, two border checkpoints in Thailand's eastern Chanthaburi province have been ordered to close temporarily for tourists by a commander of the provincial marine corps task force, The Nation, an English-language news website, reported on Saturday. The order cites an announcement of martial law in some parts of the province due to the security threat from Cambodia. Still, Cambodian migrant workers employed in Thailand are exempt, and cross-border trade will continue as usual, according to The Nation. Cross-border trade and customs activity remains operational as usual in Ubon Ratchathani province, Thai Finance Minister Pichai Chunhavajira said in a post on X upon his visit to the northeastern region. The finance ministry has prepared fiscal measures for all circumstances, he said. -- ©2025 Bloomberg L.P.
The Star
03-05-2025
- Health
- The Star
Thailand govt urges calm after first anthrax death in decades
Image from The Nation Thailand/ANN BANGKOK (AFP): Thailand's health ministry urged calm on Friday after the kingdom reported its first anthrax death in more than three decades, with a second infection already confirmed. Anthrax -- which spreads through bacteria in soil -- commonly infects grazing livestock and wild animals but can kill humans with symptoms including skin lesions, blisters and swollen lymph nodes. Health officials warned Thais against eating raw meat, a staple in the country's northeast, following the death of a 53-year-old man who reportedly handled a dead cow in Mukdahan province near the border with Laos. A second 53-year-old man, also with a history of contact with cattle, has tested positive and been hospitalised in the same region. Meanwhile 638 people in "risk groups", including a butcher and those who consumed raw beef, are being monitored and given antibiotics. Weerawat Manosuthi, a spokesman for the health ministry's disease control department, said the victim who died on Wednesday had underlying health issues. "The man touched the cow without proper protection," he told reporters in Bangkok. "Two days later, he developed symptoms and sought medical care." It was Thailand's first anthrax fatality since 1994, when three people died, and comes as infections rise in the region. In neighbouring Laos 129 people were infected last year, with a single fatality. Thai authorities plan to vaccinate more than 1,200 cattle in the infection area where the animals are experiencing a spate of illness and unexplained deaths, Weerawat said. Raw beef dishes are a trademark of Thailand's northeast region, known as "Isaan", with meals often including uncooked meat mixed with chilli, red onions and coriander. Thailand saw its last reported anthrax cases with two infections in 2017. In 2000, 15 people were also infected although no deaths were recorded. - AFP
The Star
02-05-2025
- Health
- The Star
Thailand reports first anthrax death, hundreds potentially exposed
The authorities have identified at least 638 people as potentially exposed after eating raw meat. -- PHOTO: UNSPLASH via The Straits Times/ANN BANGKOK (Reuters): Thailand has reported its first anthrax-related death with two infections nationwide, prompting a public health alert after authorities identified hundreds potentially exposed to the deadly bacteria, officials have announced. A 53-year-old man in Mukdahan province, in northeastern Thailand near the border with Laos, died on Wednesday after contracting anthrax, the government said, with a second case confirmed in the same province and three additional suspected cases under investigation. Authorities have identified at least 638 people as being potentially exposed after eating raw meat. Among them, 36 had participated in butchering livestock while the rest had consumed raw or undercooked beef, health officials said. All are receiving antibiotics as part of containment measures. "All individuals who may have been in contact with infected meat are being monitored," the health ministry said. The Livestock Department is overseeing containment efforts in the affected area, including a 5-km (3.2-mile) quarantine zone around the infection site, the agriculture ministry said. There are plans to vaccinate 1,222 cattle, though no animals have shown signs of illness or unexplained death, it added. Anthrax is a rare but serious disease caused by bacteria often transmitted through contact with infected animals or consumption of contaminated meat. It is not spread person-to-person. Thailand last reported human anthrax cases in 2017, when two people were infected without fatalities. In 2000, 15 cases were recorded, also without deaths. Wednesday's death, the first fatality from anthrax in Thailand, follows a rise in regional infections. Laos reported 129 anthrax infections last year, including one death, while Vietnam confirmed 13 cases in May 2023. Thai authorities are continuing investigations into the source of the infection and said they would maintain heightened surveillance in border areas. (Reporting by Chayut Setboonsarng, Panarat Thepgumpanat, Editing by Gareth Jones) - Reuters
