BANGKOK, February 3rd, 2025 – Deputy Finance Minister Paopoom Rojanasakul addressed concerns over U.S. President Donald Trump’s plan to impose new tariffs on Chinese, Canadian, and Mexican imports starting February 4th. The Canadian and Mexican tariffs have been paused for now as leaders of all three countries collabrate on border control.
Minister Paopoom emphasized the need for government discussions on measures to mitigate impacts and seize potential opportunities.
Paophum acknowledged the economic uncertainty, stressing that Thailand must stay proactive. The Finance Ministry is working closely with the Commerce Ministry and other government sectors to manage the situation.
Regarding the stock market decline, he assured that the Thai economy remains stable, supported by stimulus measures such as the 10,000-baht aid program for vulnerable groups and the Easy e-Receipt 2.0 tax deduction initiative. Additional cash distributions are planned to sustain economic momentum.
He highlighted concerns in the manufacturing sector, calling for stronger support, particularly in loan accessibility. State financial institutions remain stable, and discussions with commercial banks are ongoing to boost credit distribution.
On the weakening baht, Paophum noted that currency fluctuations reflect policy interest rates and other factors. While the Finance Ministry does not directly regulate exchange rates, he stressed the need for stability to maintain competitiveness in exports.