Mr Somkiat said Thailand makes up 1% of US imports, a far lower share than Vietnam, Malaysia, India or China. "Thailand should closely monitor US protectionist measures, as the global trade volume is likely to drop if goods become more expensive," he said, speaking at the IDE-Jetro and TDRI 2017 Joint International Academic Symposium. "Excessive protectionist measures by the US and China may lead to a global trade war and possibly a great recession as happened in 1910, eventually triggering a world war." Mr Somkiat said Thailand is expected to receive more opportunities to substitute for China's exports to the US if the US administration imposes punitive tariffs on Chinese products. Two-way trade between Thailand and the US amounted to US$36.5 billion (1.28 trillion baht) in 2016, of which $24.49 billion was Thai exports.

Source: Bangkok Post February 08, 2017 22:55 UTC