The Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB) has warned that global trade tensions could disrupt Thailand’s economy, urging the government to form a joint task force to protect local industries. While Thai exports to the U.S. may increase, the committee cautioned that an influx of Chinese goods could overwhelm domestic markets, threatening businesses and employment.
Kriangkrai Thiennukul, Chairman of the Federation of Thai Industries, highlighted that ongoing trade disputes involving the U.S., Mexico, Canada, and China could slow global growth in 2025, with further risks anticipated in 2026. Thailand faces economic pressures from strong trade barriers, currency fluctuations, and heightened foreign competition. To counter these challenges, the country aims to attract more foreign direct investment (FDI), which reached a decade-high of 1.14 trillion baht in 2024, and expand trade partnerships, including negotiations with the Thailand-European Free Trade Association.
A recent study by the Ministry of Commerce identified key Thai industries vulnerable to shifting trade patterns, including steel, plastics, electrical appliances, dietary supplements, textiles, glass, and cosmetics. The private sector expressed concerns that surplus goods from global supply chains could flood the Thai market, undermining local manufacturers.
In response, JSCCIB proposed several countermeasures, including appointing trade lobbyists to negotiate with the U.S., strengthening economic cooperation within ASEAN, and introducing legal protections for Thai companies facing foreign trade restrictions. The committee also recommended industrial reforms, stricter trade policies, and an expansion of the Made in Thailand (MIT) certification program to promote domestic products.
Despite economic uncertainties, the committee maintained its 2025 growth forecast at 2.4–2.9%, with exports expected to rise by 1.5–2.5% and inflation projected at 0.8–1.2%. The private sector remains committed to stabilizing the economy and ensuring Thailand remains competitive amid shifting global trade dynamics.
