FORMER finance minister Korn Chatikavanij said in a Facebook post today (Aug. 1) that US tariff of 19 percent for both Thailand and Cambodia shows that the superpower is not distinguishing between right and wrong and clearly in this era friendship is not as important as mutual benefit, TV Channel 7 said.
US President Donald Trump had previously imposed higher tariffs on both countries, with Cambodia hit with 49 percent while Thailand 36 percent, leading to the Thai team having to work hard to explain its stance on the border clashes and at least having prevented Cambodia from deceiving the world.
While previously it was not clear what Thailand could offer Trump, when the clashes broke out it gave him an opportunity to be a peacemaker again with this leading to what many have described as “peace dividend.”
Korn warned that the 19 percent tariff would more or less reduce exporters profits as they would have to bear some of the tariff burden with this coupled with the potential for decreased American consumption due to rising prices.
China will be hardest hit as it will be more difficult to transship goods through other countries with the impact on Thailand being a surge in cheap Chinese goods flooding in so everyone should be prepared, he warned.
CAPTION:
Former finance minister Korn Chatikavanij. Top photo: Thai Rath, Front Page photo: Naewna
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