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Political

Thai government under fire over US tariff hike as opposition demands resignations

Asia Business News
Last updated: July 8, 2025 10:57 pm
By Asia Business News
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He stressed that the Finance Minister adopted “Wait and see” Vietnam’s approach to rapid negotiations has made no progress, and Vietnam now imposes only 20% import tariffs. “So the Minister of Finance made a serious mistake.” Julapen asserted.

The Foreign Minister also “Ineffective and slow” In the role of negotiations, Zhu Peng noted that their failure to participate in the committee’s clarification and their role in traveling to the United States due to immigration issues related to the Uyghur case, which reportedly hindered trade and diplomatic coordination.

Today, too Veerayooth KanchoochatThe BJP’s deputy leader responded to President Trump’s truth-clarifying social position and announced new tariffs.

He described this as “Warning Sign”,” In the more dangerous stage ahead, likening it to Trump creating a “Black Hole” Attract trading partners to rush to buy new quotes from the United States.

Veerayooth warns that the game is not over yet and Thailand has not faced “The worst case.”

He expressed concern that the Thai government could admit too much to reduce the tariff by 36% without a strong negotiating stance before the August 1 deadline.

Such concessions include not only reducing import taxes to open up the Thai market, but also other key areas such as quality control, hygiene requirements and even safety policies.

He warned “Worst case” Will see Thailand “Two-way loss”,” As imports and exports decrease and imports increase, exacerbating domestic output and weakening Thailand’s geopolitical negotiating capacity may lead to “Economic Scar” More serious than those who were in the 199 pandemic.

Veerayooth outlines four key suggestions:

(1) Support high-risk small and medium-sized enterprises and workers: He urged immediate and active assistance to the 4,990 small and medium-sized enterprises identified by the Bank of Thailand (which employs more than 500,000 employees) as they are vulnerable to tariffs. These include businesses in jewelry, agriculture, metals and textiles. He called for the adoption of the “mobile healthcare team” approach to directly meet its various needs, because “soft loans” alone are insufficient. He stressed the inequity of the trade war shocks, affecting these skilled entrepreneurs who have faced challenges from China, Vietnam and Kuved.

(2) Seriously deal with misleading products: Veerayooth stressed that billions of baht goods use Thailand as a border crossing to conceal its true origins, usually in banned countries and then re-exported. He noted that only 28% of goods exported to the United States require a certificate of origin, which makes misunderstood items easy to pass. He called for a “major crackdown”, including propaganda raids of such factories, to show that Thailand will no longer tolerate such behavior.

(3) Modify the budget to absorb the impact: He reiterated the BJP’s earlier warning in the 2026 budget debate that traditional budgets are inadequate given the serious external risks to tourism and trade. He urged the government to fundamentally reassess the 3.78 trillion baht budget currently under review by parliament to align it with changes in the situation and clearly define how it can be used as a “iron lamp” for Thais during this turbulent time.

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Asia Business News (ISSN: 3079-8531) is a leading international business publication dedicated to delivering in-depth analysis, expert insights, and comprehensive coverage of economic trends, corporate developments, and market dynamics across the Asia-Pacific region and beyond. With a commitment to journalistic integrity and analytical rigor, Asia Business News serves as a trusted source of information for business leaders, policymakers, and investors seeking authoritative perspectives on global commerce, finance, and industry advancements.

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