Fears of an escalation in the trade war caused Thai stocks to fall sharply on Friday, April 4.
The latest tariff schedule released by the White House on Thursday shows that reciprocal tariffs imposed on Thailand are set at 36 percent, one percentage point lower than the previous figure.
When Trump announced the retaliatory measure on Wednesday, the rate for Thailand was initially listed at 36%, before being raised to 37%.
Reciprocal customs duties applied to the kingdom will come into effect on April 9.
Thailand Stock Exchange Falls
The Stock Exchange of Thailand (SET) saw a sharp decline on Friday morning.
The SET index fell 30.25 points , or 2.60% , to 1,131.56 points.
The decline reflects investors' concerns about a possible escalation of the trade war between the United States and several countries, including Thailand.
Significant losses for listed companies
Several Thai companies have been hit hard by this stock market shock, particularly in the real estate sector:
WHA Corporation saw its shares fall by 12 satangs , or 3.87% , to 2.98 baht.
Amata Corporation recorded an even sharper drop of 2.10 baht , or 11.67% , to 15.90 baht.
These declines reflect the vulnerability of certain sectors to international trade tensions.
A potentially major economic impact
According to a study by the University of Thai Chamber of Commerce (UTCC) , the implementation of reciprocal tariffs could cost Thailand up to US$10 billion , resulting in a drop in gross domestic product (GDP) of nearly 2% .
See: US tariffs: Thailand could lose $8 billion
Thai authorities are closely monitoring the situation as international trade becomes increasingly uncertain.
This does not bode well for Thailand's economy, which is already struggling in several sectors.
See :
Thailand's tourism crisis: towards a new strategy after the earthquake
Thailand: Restaurant crisis amid 40% drop in purchasing power
Credit crunch: Bank of Thailand sounds alarm
Towards a major financial crisis in Thailand?
Source: Bangkok Post
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1 comment
As Jean Benguigui said... it's going to be really bad!!!
It is impossible to say how far the Thai stock market will fall and how significant the long-term consequences will be overall.
One thing that is certain is that it will hurt everywhere in the world with the Trump/Musk/Vance trio at the helm, especially since the former is advised by a sphere of influencers 100% devoted to the character and who work politically in the conservative spheres of the American extreme right.
Some people no longer hesitate to compare the situation to the one that led the world to the great recession of the 1930s, and 10 years later, we know what happened to Europe...
In short, there are not 36 solutions for Europe and the rest of the world: either we react in the right way and limit the damage until this infernal duo leaves the international political scene at the latest in January 2029 (hoping that it will not be too late to get back on track), or we will have to expect the worst in the next 4 years...
Given the damage done in just three months of Trump's presidency, we won't reach the end of his four years in office without major universal upheavals...
The only hope in the short term is that, midway through his term in late 2026/early 2027, Trump will lose his absolute majority in the US Congress in the next US elections.
The recent appointment of a new Democratic judge to the Supreme Court may already be a game-changer in the event of appeals to certain contested federal decisions. This comes on top of all the legal actions filed against the political and economic decisions of the Trump/Musk duo in many American states, which does not seem to discourage the gravedigger of the economy and global geopolitics in his work of massive destruction of the planetary balance.
It remains to be seen how the middle and lower classes of the "American empire according to Trump" will react in a few months and disavow Trumpist policies during the mid-term vote by overthrowing the current legislative majority, because it is clear that the impact of the tax rage of the worst American president of all time will begin to have catastrophic consequences on the economy, consumption and the lives of American citizens within 2 to 3 months...
We don't yet know where we're going and until when, before things "explode" on all sides, but we're going!!!