Bangkok: Thailand’s economy may experience slowing growth over the next two years as a result of severe US tariffs, but its finance minister said on Thursday ( May 15 ) that state-owned banks will support the affected exporters and supply chain companies.
” We should witness a lot of falls within the next two times.” At a meeting with state-owned bankers, secretary Pichai Chunhavajira stated that the trade industry is likely to suffer the most.
But, Pichai said that Thailand is not anticipated to experience a greater tax impact than other nations.
If a reduction cannot be reached before the July 1st ban, Thailand will be subject to a 36 % US price. While the ban is in effect, the United States has imposed 10 % tariffs on the majority of the world.
As part of its efforts to prevent the high tariffs, Thailand has sent a business plan to the US.
Pichai said in a statement that the government plans to provide smooth loans for 100 billion baht ( US$ 3 billion ) to assist both Chinese companies that are struggling with supply chains and those that are exporting merchandise to the United States as well as those that are suffering from increased imports from China.  ,
State-owned banks will even develop strategies to improve the agrarian and real estate sectors as well as provide incentives for those affected by interest price reductions.