Finance Minstry: Trump's policy will benefit Thailand

BANGKOK, Jan 24 (TNA) -- Permanent Secretary for Finance Somchai Sujjapongse said US President Donald Trump's new trade policy would be beneficial to Thailand. Mr Somchai said Thailand have always had close trade relations with the United States, noting that once President Trump has initiated an economy policy to revive the domestic economy through internal growth, which would in turn help to increase the spending power of the American people, prompting Thailand to be able to export more products to the United States in the future. Moreover, he noted that the US' desire to lower than trade relations with other world powers such as Russia and China would provide more chance to smaller countries like those in ASEAN and Thailand to export more to the country and gain the highest benefit from the situation. Meanwhile, the US' decision under the Trump administration to pull out from the Trans-Pacific Partnership or TPP has helped Thailand make an easier choice in whether or not the country should join the trade agreement. Mr Somchai noted that the ministry will now closely monitor the US' international policy in the long term, as from now the United States might begin to close off the country in a bid to revive its economy from within, creating rumours that the US could pull out from being a member of various international organisations, which in that case would affect the world economy as a whole. (TNA)