Thailand’s exports expected to rise, but trade challenges remain

World: Thailand’s Commerce Minister Pichai Naripthaphan said on Friday that the country’s exports could exceed targets this year, but some challenges could arise due to tariff agreement negotiations with the US government. He said exports are expected to grow 2%-3% this year, which may be slightly better than earlier expectations.

Exports grew 17.8% in March, the highest in the last three years. Exports grew 15.2% in the first quarter. However, US President Donald Trump’s trade policies could have a serious impact on Thailand’s economy. If the tariffs are not cut by July, Thailand may face a 36% import duty.

The US is Thailand’s largest export market, with exports worth $55 billion in 2022. Trade talks between the two countries have been suspended for some time, with Thailand being asked to improve US trade policy.