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  - WN.COM - World - 15/Aug 03:00

Thai experts urge innovation push to counter tariffs

Thai experts have called for a long-term strategy to offset the negative effects of US tariffs, saying Thailand should strengthen its competitiveness by investing more in innovation and technology while expanding its trade partners, including focusing more on China. The United States recently announced a new "reciprocal" tariff rate for Thailand at 19 percent, which is significantly lower than the previously proposed 36 percent. The new rate is almost on par with those on several other members of the Association of Southeast Asian Nations, but lower than the levy on Vietnam. "The reduced tariff attributed to the government's negotiation efforts is not over yet," said Wichai Kinchong Choi,...

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