BANGKOK– The Ministry of Commerce believes that US President Donald Trump’s ‘America First’ policy will have only a slight effect on Thai exports, but urged investors to closely follow American policy.
Director-General of the Trade Policy and Strategy Office Pimchanok Vonkorpon said the impact of the America First policy is indirect. US trade barriers with Mexico and China could present an opportunity for Thai exporters to expand its market share of consumer goods, such as electronics, auto parts, furniture, and instant food.
If the United States succeeds in increasing government spending through its expansionary fiscal policy, it will boost demand from trade partners. However, the US dollar is expected to strengthen, which could affect economic stability.
The Ministry of Commerce has forecast that export growth in 2017 will range from 2.5 – 3.5 percent, an improvement over last year.