After Donald Trump was re-elected as the president of the United States, several companies began moving their factories from China to Southeast Asia, primarily due to his tariff policies.
Trump has promised his supporters that he will increase tariffs on Chinese products entering the U.S. by 60%, significantly higher than the 7.5% to 25% levies imposed during his first term, which could severely impact the world’s second-largest economy.
According to two executives, two business groups, a lawyer, and an analyst, the relocation of auto and electronics factories to Southeast Asia—specifically Thailand, Vietnam, and Malaysia—could greatly benefit the region.
CEO Jareeporn Jarukornsakul of WHA Corporation Public Company Limited (SET: WHA), a Thai industrial estate developer, confirmed that several Chinese companies have already relocated or are planning to move to the region.
She added that they are now expanding its sales force, hiring Chinese speakers to join teams that oversee and manage industrial parks spanning 12,000 hectares (30,000 acres) in Thailand and Vietnam.
Meanwhile, Vikrom Kromadit, founder and chairman of another major Thai developer, Amata Corporation Public Company Limited (SET: AMATA), also confirmed that two-thirds of the 90 factories opened this year were relocated from China.
