Government strategies in place to deal with influx of cheap imports

Thailand is ready to tackle the influx of imported goods in the country with the value-added tax (VAT) mechanism and strict product quality inspection, the Finance Ministry said on Wednesday.

This remark follows US President Donald Trump’s policy to impose tariffs on imported goods, with up to 60% on Chinese goods.

Deputy Finance Minister Julapun Amornvivat confirmed that the Fiscal Policy Office has already evaluated the impact of Trump 2.0 policy, saying that other ministries would do the same to cope with the policy’s impact on Thailand.

He affirmed that all Thai agencies had evaluated and were prepared to adapt in the event of a Trump victory in the US presidential election.

“Adapting to the current global economy is inevitable,” he said. “Thailand must adapt to the situation and look for opportunities to maximise its benefits.”Though Thailand hasn’t been named among countries on whom Trump will impose import tariffs, Julapun said the Thai government will form a team for trade negotiations with the US in a bid to mitigate the impact from the import tariff hike.

“Meanwhile, Thailand should be ready for the influx of imported goods, such as products from China which would come to the country due to the trade war,” he warned.To tackle this issue, Julapun said Thailand has implemented a measure to collect value-added tax on imported goods priced below 1,500 baht, as well as strict quality inspections under the Thai Industrial Standards Institute.

Thailand will ensure that its measures will not affect international trade agreements, he assured.

(2025/01/22-00:00)