Thailand outlines strategy to mitigate US tariff impact

Thailand is actively responding to the significant 36% tariffs imposed by the United States, which are expected to cause an estimated loss of $15 billion for the Thai economy. Officials, including Prime Minister Paetongtarn Shinawatra, are advocating for increased imports of American goods to offset trade deficits and strengthen bilateral ties, while simultaneously exploring free trade agreements with other nations to diversify trade. Meanwhile, the Thai government is considering legalizing casinos, which could generate substantial revenue to mitigate the economic impact of these tariffs, despite facing opposition from civil and religious groups. The proposed casino legislation, however, has been postponed amid this growing discontent. Additionally, the Thai administration recognizes the risks of increased Chinese influence and is urging a balanced approach to maintain economic resilience and neutrality in the geopolitical landscape. Economists have underscored the importance of negotiation over mere tariff focus to secure mutual benefits with the US.