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U.S. tariffs on China goods may cut Thai exports as much as $6.7 billion - ministry

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U.S. tariffs on China goods may cut Thai exports as much as $6.7 billion - ministry

 

2019-05-14T051236Z_1_LYNXNPEF4D07T_RTROPTP_4_THAILAND-ECONOMY-TRADE.JPG

FILE PHOTO: A crane is seen at the port of Bangkok, Thailand May 26, 2016. REUTERS/Jorge Silva

 

BANGKOK (Reuters) - Thailand's exports could fall between $5.6 billion to $6.7 billion because of new U.S. tariffs on Chinese goods, the Thai commerce ministry said on Tuesday.

 

Such goods cover about 46 percent of Thai exports, ministry official Pimchanok Vonkhorporn said in a statement.

 

The statement did not give a timeframe for the forecast fall in Thai exports.

 

Shipments of electronics and automobiles are expected to decline sharply, Pimchanok said.

 

So far this year, the United States and China have been Thailand's two biggest export markets.

 

(Reporting by Orathai Sriring and Kitiphong Thaichareon)

 

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-- © Copyright Reuters 2019-05-14

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Well, good job that the 250 'good people' senators have been appointed. They'll easily be able to sort this mess out with their vast experience of buying army and police positions.

 

You're in good hands, Thailand. You're in good hands. 

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They could always revert back to the seventies and start exporting recreational marijuana again! There surely can't be tariffs on that.

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It will not do the business of large industrial groups established in Thailand; they will end up with colossal unsold inventories and will have to put tens of thousands of workers out of work ..

 

This may force the Bank of Thailand to realize that the baht is too strong; a weak baht will give hope to potential buyers of these huge stocks otherwise they will rust and it will make a huge dry loss for industrials and therefore their shareholders.

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23 minutes ago, webfact said:

Shipments of electronics and automobiles are expected to decline sharply,

Oh no! That can't be allowed to happen. 

In PM Prayut's Eastern Economic Corridor plan he aims to develop the Laem Chabang port in the first year to:

     

  • Double container accommodation from 7 million to 18 million twenty foot equivalent units a year.
  • Increase automobile exports from one million to three million units a year.
  • Become a logistics hub and gateway into South East Asia.

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10 minutes ago, Phuketshrew said:

It's always someone else's fault.

But tell his boss (the Chinese): it's your fault!
It's impossible

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Health insurance seems like a sure fire way to make up the deficit?

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3 hours ago, webfact said:

Such goods cover about 46 percent of Thai exports

If true, that is an enormous proportion and the Thais only have themselves to blame that they didn't diversify their export markets more carefully. Sh*t can easily happen when you put almost all your eggs in one single basket. 

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5 minutes ago, Misterwhisper said:

If true, that is an enormous proportion and the Thais only have themselves to blame that they didn't diversify their export markets more carefully. Sh*t can easily happen when you put almost all your eggs in one single basket. 

That is why you always ensure you have a mia noi so there are two baskets. 

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2 hours ago, Thailand said:

Health insurance seems like a sure fire way to make up the deficit?

or part of it, they have it all figured out

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3 hours ago, webfact said:

Thailand's exports could fall between $5.6 billion to $6.7 billion because of new U.S. tariffs on Chinese goods, the Thai commerce ministry said on Tuesday.

and I thought it would be good for Thailand, they could fill in the gap from china parts not allowed into the US but to do they would have to depreciate the baht and unfortunately it appears they are not ready for that, they need to buy more stuff from outside Thailand and for that they need a strong baht

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If that happens along with

everything else declining , should we expect for Thai economy to tank? Or it will sail through the crisis once again on the back of imaginary growth 

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 1 Free elephant and or parts with every purchase of electronics and or parts /automobiles and or parts...

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The empty heads were only just telling us last week that the U.S.-China Trade War would not hurt Thailand in any way.

 

Hub of Numpty's !

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