Thailand faces US$24bn loss, downsizing, due to US tariffs

Thailand faces a potential economic loss of up to THB 800bn (US$24bn), equivalent to 4% of its GDP, as a result of US tariffs, according to the Federation of Thai Industries (FTI). The 36% tariff rate imposed on the country by the Trump Administration threatens key sectors, including but not limited to vehicles, which are integral to Thailand’s export-driven economy.