Trade war likely to drag down Thai exports in 2019

BANGKOK, June 28 (TNA) - The Bangkok-based Kasikorn Research Center (KResearch) warns that the ongoing trade war between the United States and other major trading partners may pull down Thai exports to a certain extent next year. KResearch Assistant Managing Director Siwat Luangsomboon voiced the warning on Thursday, saying that the ongoing reciprocal trade protectionist measures between the United States and China should cause a drop in Thai exports by 280-420 million US dollars this year, but the trade war, if prolonged and expanding to involve European nations next year, should affect Thai exports more serioulsy by 4-4.5 billion US dollars in 2019. Siwat told journalists Thai exports this year that should be slighly pulled down by the ongoing trade war include steel and aluminum products solar cells, washing machines, electrical appliances, electronic products and primary plastic products, while Thai exports that should be more negatively affected by the trade war next year mainly include automobiles and parts. The KResearch executive, thus, forecast that Thailand's export growth should slowdown to expand by 5 per cent year-on-year in 2019, from about 8.8 per cent year-on-year in 2018. (TNA)