Thailand’s SET Index closed at 1,161.81 points, decreased 10.88 points or 0.93% with a trading value of THB 41.06 billion. The analyst stated that the drop was inline with other markets after the U.S. imposed sweeping tariffs, with Thailand being hit with a higher-than-expected 37% duty.
Electronic, lead by DELTA, banking, and industrial estate stocks experience major selloffs, further plummeting the Thai market
The analyst expects the Thai market to rebound if the SET Index reaches above a significant supporting level of 1,150 points.
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.
However, certain imports of steel and aluminum will not be subjected to reciprocal tariffs, offering some respite to U.S. buyers burdened by the existing 25% import duties on these essential metals.
Meanwhile, Trump has signed an executive order aimed at closing the “de minimis” loophole, which allowed a flood of low-value packages from China and Hong Kong to enter the U.S. without duties.
Thailand’s Prime Minister has summoned an urgent meeting with economic ministries to assess the implications of the United States imposing a 37% import tariff on Thai goods. The aim is to explore negotiation strategies and prepare measures to mitigate the impact.
The European Union is gearing up to implement additional retaliatory measures against U.S. tariffs should ongoing negotiations reach an impasse.
As the U.S. imposed a 10% tariff on Australian goods, while criticizing the nation’s import restrictions, Australia’s beef farmers and industry representatives have signaled their intention to pass these tariff costs onto American consumers, potentially driving up burger and steak prices in the U.S.
