Thailand expects investment boost from U.S.-China trade tensions under Trump

A view of the front pages of Italian newspapers reporting on Trumps win Nov 7 2024 AFP-Yonhap — A view of the front pages of Italian newspapers reporting on Trump's win, Nov. 7, 2024. AFP-Yonhap

SEOUL, November 8 (AJP) - Thailand's Commerce Minister Pichaya Naripthaphan said on Thursday that Donald Trump's election victory could benefit the kingdom, predicting increased investments from both the United States and China as trade tensions escalate.

"Trump's victory will help Thailand... The Republican Party is pro-business, and as the U.S.-China trade war continues, both countries will invest more in Thailand," Pichaya told Bloomberg in an interview, highlighting Thailand's neutrality as a key advantage. "The U.S., China, India and Russia consider Thailand a friend. We don't need to choose sides, which makes us more attractive for investment."

The commerce minister revealed plans to introduce new investment incentives to attract global companies seeking to minimize the impact of potential trade tensions, as Trump has promised tariffs of over 60 percent on Chinese goods. Thailand has already secured major investments from global tech giants like Alphabet and Google, while actively courting Chinese electric vehicle manufacturers.

AJP