BANGKOK, Thailand – Thailand’s Ministry of Finance is reassessing the third phase of its digital wallet stimulus program in light of new global economic pressures, including the recent increase in U.S. import tariffs on Thai products—seen by officials as a potential wave of “Trump Tariffs 2.0.”
Deputy Prime Minister and Finance Minister Pichai Chunhavajira said on Wednesday that the Economic Stimulus Policy Committee will convene to review and adjust the government’s economic recovery strategy. This comes as new external factors—most notably the U.S. tariff hike—begin to impact Thailand’s export-driven economy.
“In response to the evolving global situation, we are collecting input from various government agencies and reassessing which stimulus measures should proceed and which may need to be postponed or revised,” Pichai stated.
Digital Wallet Program Faces Revisions
The third phase of the highly anticipated digital wallet handout, a cornerstone of the government’s stimulus plan, may be delayed or altered. Officials emphasize the need for flexibility as they weigh fiscal priorities and determine which sectors or demographics should receive support first.
The digital wallet scheme, designed to inject liquidity directly into the economy through citizen spending, is now under review as part of a broader economic recalibration effort.
Targeted Relief for Exporters in Focus
To offset the impact of the U.S. tariff increases, Minister Pichai will meet on May 15 with executives from key state-owned financial institutions including the Government Savings Bank (GSB), Export-Import Bank of Thailand (EXIM), and the Bank for Agriculture and Agricultural Cooperatives (BAAC).
The goal of the meeting is to develop a targeted support strategy for exporters affected by the new U.S. trade measures, particularly in sectors deemed vulnerable. “We want to ensure that relief efforts are precise and directed at those who are directly impacted,” he said.
Minister Pichai underscored that while the global economy is shifting, Thailand is not alone in facing these challenges. Many countries are also reassessing their economic policies in response to the return of protectionist trade practices from the United States. (TNA)
