Picture courtesy of Thai PBS World via AFP
In a bold trade manoeuvre, US President Donald Trump has imposed a hefty 36% tariff on Thai imports. This significant levy is part of a sweeping action targeting over twelve countries, with the new tariffs set to take effect on 1st August 2025.
Thailand finds itself in the crosshairs as Trump aims to secure more favourable trade conditions for the United States.
The broad strategy covers various nations with tariffs ranging from 25% to 40%, depending on the country. The tariffs are as follows:
- Japan and South Korea: 25%
- Malaysia, Tunisia, Kazakhstan: 25%
- South Africa, Bosnia & Herzegovina: 30%
- Indonesia: 32%
- Bangladesh, Serbia: 35%
- Cambodia and Thailand: 36%
- Laos and Myanmar: 40%
Originally introduced in April, these tariffs were paused for 90 days, allowing for negotiations. However, Trump has extended the pause to 1st August through an executive order, granting extra time for affected nations.
The pause came into effect after the tariffs were first announced in April and then suspended until July 9th. In recent communications, Trump has issued formal letters to the countries concerned, clearly outlining the looming consequences should they fail to seal a deal before the deadline.
The move raises questions about potential impacts on international relations and economic stability. The increased tariffs might lead to higher costs for US consumers, as well as strain on diplomatic ties.
As negotiations continue, eyes are on the affected countries to see how they will respond to secure better trade conditions.
This latest trade action underscores Trump's aggressive approach to international commerce, as the US seeks to renegotiate terms with key economic partners. Whether the initiative will yield the desired results remains to be seen, with the clock ticking towards the August deadline.
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