US-Thai relation shows glimpse of optimism in trading


Analysts said Joe Biden’s victory in the 2020 US presidential election would have a positive impact on Thailand, noting that ongoing trade tensions with China were likely to ease as Biden has vowed to resume beneficial dialogue with all trading partners.

The Thai National Shippers’ Council (TNSC) vice president Visit Limlurcha, said that once Mr Biden assumed office in early January, the trade war between China and the US would ease as both nations were likely to start talks and set aside their differences.

That being said, Mr Visit said this doesn’t mean that America under Mr Biden’s administration wouldn’t use trade pressures to penalise countries which challenged its demands.

US President-elect Joe Biden has vowed to resume beneficial dialogue with all trading partners. (Photo: AFP)

He added that cost for exports from the US would increase because Biden had promised to increase minimum wages for American workers.

Meanwhile, chairman Kalin Sarasin of the Thai Chamber of Commerce said that having the US at the control of Mr Biden, Thailand would benefit from a more liberal global trade, adding the US was likely to rejoin the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

However, Thailand will later reap the economical benefits as it did not choose to join the CPTPP last August.

On Sunday, PM Prayut Chan-o-cha sent a congratulatory message to Mr Biden, stating: “On behalf of the Government and the people of the Kingdom of Thailand, I wish you every success and look forward to working closely with you and your Administration to further enhance our cooperation at all levels.”

Source: Bangkok Post