Hand-wringing over tariffs : The GSP revocation leaves everyone spinning and online forums spewing, while experts try to figure out problems with workers’ rights in Thailand and officials look to make headway with US dialogue. The US recently stunned long-time ally Thailand by revoking trade privileges worth US$1.3 billion (39.2 billion baht) under the Generalized System of Preferences (GSP), stirring up anti-American sentiment among locals online after the latest in a string of protectionist trade policies favoured by US President Donald Trump. Bangkok Post
Mahathir leads call for unity amid US-China trade war tension : Southeast Asian countries must stick together in the face of the trade war started by US President Donald Trump, Malaysian Prime Minister Mahathir Mohamad said yesterday at the start of a regional summit held in the shadow of US-China tensions. Bangkok Post
US-China meet spurs ‘optimism’ : US Commerce Secretary Wilbur Ross has said he is “reasonably optimistic” after “phase one” of talks over a trade deal between the US and China. Bangkok Post
IMF praises stimulus : Lender urges proper use of policy space . Now is a good time for Thailand to implement stimulus measures to rev up its economic growth momentum, weighed down by the global slowdown, given the availability of policy space, says the IMF chief. Bangkok Post
US ventures eager to invest in EEC : American entrepreneurs are keen to invest in the Eastern Economic Corridor (EEC), home to 12 targeted industries that are expected to transform Thailand into an innovationdriven economy, says Lavaron Sangsnit, director-general of the Fiscal Policy Office and the Finance Ministry’s spokesman. Bangkok Post
Shippers maintain 1.5% contraction forecast for exports : Exporters are maintaining their forecast for outbound shipments to contract by 1.5% this year, blaming the world’s slowing economy, the protracted trade war and the stronger baht.
SCB, GSB out in front with rate easing : Swallowing lower profits to help SMEs . Siam Commercial Bank (SCB) and Government Savings Bank (GSB) have taken the lead in passing on the central bank’s rate cut to customers, putting pressure on the lenders’ profits. Bangkok Post
Confidence dips in October : Despite a spate of government stimulus measures, consumer confidence continued to ebb in October as the public fretted about the tepid economy, political instability, shrinking exports, low farm prices and global uncertainty stemming from trade wars and the Brexit impasse, as well as the US suspension of tariff preferences on 573 Thai goods. Bangkok Post
The Mall eyes duty-free concession at Don Mueang airport : The Mall Group yesterday (November 7) collected price tender documents from the Airports of Thailand (AOT) for the bid to operate duty-free concession at Don Mueang International Airport, said Wichai Bunyu, AOT senior executive vice president/Business Development and Marketing. Bloomberg
Finance Minister vows more action if baht continues rapid appreciation : The baht on Thursday closed at Bt30.32 to the dollar in onshore trade, maintaining Wednesday’s level when the central bank cut its policy rate and issued key measures to rein in the rapid appreciation of the Thai currency. Bangkok Post
