The Department of Trade Negotiations (DTN) said the unexpected results of the U.S. presidential election could have a widespread economic impact, given that Donald Trump is unsupportive of the Trans-Pacific Partnership (TPP).
DTN Director-General Boonrit Kalayanamit said it is obvious that the U.S. will become more self-reliant in terms of its economy. Trump’s foreign policy, which dismisses TPP, will give rise to China as a more powerful economy. It will cost Thailand more to export products to the U.S. as the new president is planning to raise tariffs, reported Thai News Bureau.
Meanwhile, Department of International Trade Promotion Director-General Malee Chokelumlerd has instructed Thai commercial diplomats worldwide to monitor the situation in the U.S. and find out how the new American President’s trade policy will affect Thailand.
However, Malee expressed her confidence that Thai exports in the remaining 2016 will not be impacted as the export sector is likely to grow 1-2 percent this year.
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