BANGKOK: Thailand is pressing ahead with Reciprocal Trade Agreement (ART) negotiations with the United States despite the outcome of the US midterm elections, Deputy Prime Minister and Commerce Minister Suphajee Suthumpun has affirmed.
Suphajee noted that the midterm election results could compel the US administration to approach new trade policies and measures with greater caution. Domestic economic pressures, including the rising cost of living and inflation, were central issues for voters during the elections.
She added that a Democratic majority in Congress is expected to strengthen checks and balances on the executive branch. Enhanced legislative scrutiny of policy and budget decisions could influence the direction of US economic strategy moving forward.
However, Suphajee emphasised that bilateral trade talks will continue uninterrupted, as US President Donald Trump retains executive authority over foreign trade policy.
Washington is expected to maintain its reliance on trade measures under existing legal frameworks, such as Section 301 and Section 232, while continuing to utilise tariffs.
Given these conditions, Suphajee stressed that securing an ART remains vital for Thailand to preserve its export competitiveness in the American market while providing necessary clarity and stability for domestic trade and investment.
Over the longer term, Thailand will closely monitor how shifts in US legislative priorities, budgeting and industrial support policies could affect global economic conditions, international trade and investment flows. - The Nation/ANN
