Follow 4 policies “Biden” 100 days, can Thailand or lose?
On January 23, 2021 at 3:33 p.m.
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“Ministry of Commerce” adheres to Biden policy for the first 100 days in Thailand or after seeing 4 major US plans Prepare to push urgently That will affect the Thai economy in any angle
Ms. Pimchanok Wonkhaporn, Director of the Office of Trade Policy and Strategy President Joe Biden said the plan of the administration, according to the memo published on Jan. 17, 64 that President Biden will focus on four key areas: 1. Crisis of the virus. COVID-19, 2. Economic Crisis, 3. Environmental Crisis, and 4. Ethnic Equality Crisis It will be the core of the first 100-day advocacy to tackle today’s serious damage. Coupled with moving the United States Urgently forward
The director of the NDC said that in the first ten days President Biden will expedite the executive order to issue an Executive Order. (Presidential Memorandum) and orders to the Cabinet. To speed up work Just two days after taking office, President Biden signed more than 20 special orders, including the coronavirus crisis, such as the enforcement of masks in the area of the unit. Government work and during interstate travel Speeding up production of the COVID-19 vaccine And the termination of the withdrawal from WHO membership.
Environmental crises such as the reentry to the Paris climate accord and ethnographic crises, such as the abolition of migrant policies from certain Muslim countries. As for the crisis, President Biden signed a special order to extend the payment of student loans and interest. It will also accelerate a US $ 1.9 trillion treatment budget for the coronavirus outbreak. Within this week Before entering the signing of the President’s Order to accelerate the “Buy American” approach (increase public procurement). In domestic goods and services) in the next week.
Miss Pimchanok Commented that The four key policies reflect the implementation of the policy in the presidential campaign. Joe Biden said that controlling the spread of the COVID-19 virus. Is the first priority mission As well as the economic recovery in the country
In addition, the reinstatement of the Paris Agreement and the lifting of the ban on entering the United States. Of people from some Muslim countries This is the cancellation of the policy during the presidency period Trump and building social stability and reconciliation This is another important goal of the program and reflects that the direction of the President’s foreign policy. Biden will return to its focus on international rules and will likely build more cooperation through international organizations or agreements.
During his speech at the inauguration ceremony (night 20 Jan ’64), President Biden also emphasized that the United States Will participate in the world’s most challenging issues Including the restoration of US leadership on the world stage, which is a good sign that the United States Will strengthen cooperation with partners on a wide range of matters of importance, including trade. And back to the building of multilateral cooperation and adhere to international rules such as WTO trade rules.
In terms of impact on the Thai economy and trade Ms. Pimchanok said that the US remedies and stimulus measures. The injecting money into the economy will help the US economy and jobs. In particular, the recovery of the middle class is the main purchasing power of the country. Will support the US Good recovery continuously
Most recently (Jan. 64), the World Bank estimates that the US economy in the year ’20 will expand by 3.5 percent, which will benefit Americans’ purchasing power. Including the world economy and purchasing products from Thailand, the US is the country with the largest economy in the world and the number 1 export market in Thailand.
In addition, an overview of the year 2020 shows that Thailand can still export products to the United States. This increased 9.55% (YoY) despite the challenges of the coronavirus outbreak. Most of them are downstream consumer products. The main product groups that Thailand export to the US are computer equipment and components, rubber products, canned and processed seafood. Semiconductors, transistors and diodes. In addition, measures to suppress the spread of COVID-19. Tighter Create opportunities to promote Thai export of potential products in the field of disease prevention / medical products such as rubber gloves.
In addition, Thailand should accelerate exports of products that are likely to grow following the COVID-19 epidemic, including all types of food. Work from home products such as computers and parts Furniture lifestyle products Home decoration and electronic parts
However, the policy driven by President Biden’s “Buy American” approach requires the government to increase domestic procurement of goods and services.
In particular, the use of steel, aluminum and key raw materials is under key government programs. May put pressure on the export of such products from Thailand to the United States (the US is currently the number 1 export market of iron, steel and Thai products, worth US $ 1,011 million. It accounts for 20.81 percent of total steel exports in the year 2020 and is the second largest export market of aluminum products in Thailand with a value of US $ 190.84 million. Accounted for 11.23 percent of total aluminum product exports in 2020) and its re-entry into the Paris Agreement Whose goal is to determine measures to reduce carbon dioxide emissions Will put pressure on products that affect the environment and may affect the export of internal combustion cars of Thailand.
Current US Is a car export market Equipment and components ranked 6th in Thailand, worth US $ 1,039.24 million. It accounts for 4.89 percent of total automobile exports in the year 2020 and is the sixth internal combustion engine export market in Thailand with a value of 215.69 million US dollars. And accounted for 5.88 percent of total internal combustion engine exports in 2020
It may also encourage the private sector and US entrepreneurs. Stay alert to green and clean energy trends and set stricter product conditions / standards such as labeling for carbon emission levels or requiring manufacturers to disclose carbon footprint information in the supply chain. all This can be a challenge for small and medium enterprises.
Ms. Pimchanok concluded that if the US adheres to more international rules and multilateral mechanisms This should help reduce fluctuations or unexpected events to the global trade economy, which will benefit Thai trade. Will provide an opportunity for negotiations for Thailand to expand further trade with the United States And other potential partners
However, Thailand must prepare the issue that the President Biden emphasized, which is expected to be put forward as a condition of future trade talks. To reduce problems and create an atmosphere for building a good trade relationship with each other, such as environmental issues. Human Rights and Labor Including the protection of intellectual property As with other measures the United States takes to monitor unfair trade behavior, such as monitoring partner countries’ currency policies / currency manipulation, which may be used as a reason for issuing other measures, such as measures under Under Section 301 and a counter-subsidy tax (CVD) hike against a trading partner that interferes with the exchange rate below its intrinsic value.
The Ministry of Commerce will continue to closely monitor the policy movement. And ready to continue working with the private sector to facilitate Promote and resolve any trade barriers that may arise. Through the mechanisms of joint public and private committees on commerce (Government of Commerce) and push forward Thai exports further
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