BANGKOK: Thailand has prepared more economic stimulus focused on creating jobs, Finance Minister Pichai Chunhavajira (pic) said on Thursday (April 10), adding that a 90-day pause on US tariffs announced overnight would give officials more time to prepare a response.
US President Donald Trump said he would temporarily lower the hefty duties he had just imposed on dozens of countries, including a 36% tariff on Thai exports, while further ramping up pressure on China.
"As the situation changes, we have to adjust," Pichai told reporters, adding that Thailand will focus on balancing trade.
A drop in exports would impact manufacturing and employment and so mitigation measures had been prepared, he said.
When the tariffs were announced last week, Pichai had said they could cut growth in South-East Asia's second-largest economy by 1 percentage point.
Thailand has said it would increase imports from the United States and lower tariffs as it seeks to negotiate a better deal.
Measures imposed this week to curb stock market volatility will be eased later in April, Pichai said.
The Stock Exchange of Thailand this week imposed a ceiling and floor on stock trading to 15% from 30% and banned short-selling to reduce volatility. - Reuters
