Bangkok: Ekniti Nitithanprapha, the Deputy Prime Minister and Minister of Finance, disclosed that the Thai government is formulating a strategic plan to address the "Trump effect." This initiative is driven by optimism that foreign investment will bolster the Thai stock market, aiming to reach a milestone of 1,500 points.
According to Thai News Agency, Prime Minister Anutin Charnvirakul convened a meeting with key economic figures, including Ekniti, Minister of Commerce Supajee Suthamphan, and Minister of Foreign Affairs. They discussed the implications of the US Supreme Court ruling that President Trump overstepped his authority by increasing import tariffs under the IEEPA law. The Prime Minister has instructed relevant agencies to monitor developments closely and prepare countermeasures, emphasizing the need for proactive strategies.
Foreign investors continue to show confidence in Thailand, with ongoing investments contributing to the stock market's upward trajectory. The Ministry of Finance is projecting GDP growth of 2.5-3% for 2026, supported by a strong fourth quarter performance and the designation of the current year as the "Year of Investment." The BOI Fast Pass investment policy, valued at 480 billion baht, aims to eliminate barriers to investment, focusing on attracting FDI to sustain economic growth.
The meeting also highlighted Thailand's competitive advantage through tax standard alignment with neighboring countries. The government is committed to removing legal obstacles to attract FDI, with the Secretary-General of the Council of State tasked with overseeing this process. Despite global economic uncertainties, robust economic fundamentals and export acceleration are expected to sustain GDP growth targets, with ongoing public-private sector collaboration being pivotal.
In the export sector, the temporary 10-15% import tariffs imposed by Trump are seen as a short-term challenge. The Ministry of Commerce has mobilized a team to monitor the situation, anticipating a positive impact on exports in the initial months of the tariff period. The uniform application of tariffs across countries is expected to enhance Thailand's competitive positioning.
Mr. Lawaron Saengsanit, Permanent Secretary of the Ministry of Finance, emphasized the importance of assessing the long-term impact of Trump's tariffs and preparing for potential negotiations post the 150-day tariff period. Similarly, Mr. Danucha Pichayanant, Secretary-General of the NESDC, noted the need for exporters to capitalize on the current tariff situation as an opportunity to adjust strategies and expand exports to the US.