Bangkok – The Ministry of Commerce expects the US’s retaliatory tariffs against China to affect the world economy including Thailand.
The comment was made by Chutima Bunyapraphasara, the deputy minister for commerce. She said Thailand, directly or indirectly, will feel the impact, while assuring all sides that the ministry has already asked trade promotion offices overseas and the Thai commercial diplomat in the US to keep a close eye on the situation.
US President Donald Trump last week signed an executive memorandum levying as much as 60 billion US dollars against China in a bid to thwart intellectual property theft in the country.
The tariff announcement came after a roughly eight-month investigation into intellectual property theft from China.
The measures will primarily target certain products in the technology sector where China holds an advantage over the US.
Both China and the US are Thailand’s major trade partners.