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21 Jan 2025

International Economy

Trump’s decision to delay tariff hikes on Inauguration Day weakens the US Dollar (Business Brief No.4118)

คะแนนเฉลี่ย
  • Donald Trump was sworn in as US President for a second term on January 20, 2025. President Trump said he would continue with key policies he campaigned on, such as withdrawing the US from the Paris Agreement and the World Health Organization (WHO), increasing domestic energy production, and deporting illegal immigrants.
  • President Trump has not immediately raised import tariffs but is preparing to collect 25 percent on goods from Canada and Mexico as early as February 1, 2025, which could affect the US energy and automotive sectors while potentially increasing opportunities for Thai exports to the US, especially in the auto and parts sector.
  • In the future, uncertainty over US policy may remain high. The US may consider imposing additional import tariffs on China, as well as on ASEAN and Thailand. Any economic impact would depend on the timing of an import tariff increase, the products subject to tariffs, and negotiations among the US's trade partners.
  • After President Trump took office, the US Dollar weakened due to the delay in import tariffs, causing the Thai Baht to strengthen to nearly THB34.00/USD, its strongest level in two weeks, while Asian stock markets opened in positive territory.

International Economy