Trade pacts urged to ease impact from protectionism
Thailand should work towards a swift finalisation of the Regional Comprehensive Economic Partnership to offset the prospect of protectionism in global trade, the University of the Thai Chamber of Commerce says. With the policies of President Donald Trump’s administration in the United States seen likely to result in rising non-tariff barriers in international trade, the Thai government should also seek to resume stalled talks for a free-trade agreement with the US, a report from the university advises. The suggestions were prompted by a UTCC study that found the value of Thailand’s exports to the US could increase by Bt17.24 billion a year under Trump’s policies, while trade with China could shrink under the impact of higher tariff and non-tariff barriers.
