The Thai baht has depreciated to 34.37 against the U.S. dollar, marking its weakest level since January 20. The drop came after the Trump Administration imposed 36% reciprocal tariffs on Thailand, while other countries were levied at a range of 10-50%.
On Wednesday, President Donald Trump introduced a sweeping policy of global reciprocal tariffs during a White House event. He established a baseline 10% tariff on all imported goods, with certain nations facing even higher rates.
At the official announcement held in the Rose Garden, he showcased a board displaying the new tariffs imposed on various nations. These tariffs varied significantly, ranging from 10% to as high as 50%.
Thailand was notably highlighted as facing a 36% import tariff from the U.S., after it was perceived to be imposing a 72% rate on American products. With this measure from top to bottom, Thailand stood 14th in rank among those countries affected by these elevated tariffs. However, considering the midpoint between 10-50%, Thailand is just slightly above the middle of the pack.
China, who already has 20% in place before the reciprocal tariffs hit, is slapped with 34%. Meanwhile, the European Union took 20% levies.
