0824 GMT - Thailand's open economy makes it vulnerable to a sharper growth slowdown due to higher trade barriers--particularly with the U.S., OCBC economists write in a note. Thailand faces a reciprocal tariff rate of 36% without a U.S. trade deal. The economists note Thai finance minister Pichai Chunhavajira describing the tariff rate as somewhat shocking, adding that the U.S. has yet to consider Thailand's revised trade offer. Thailand had a delayed start to formal negotiations compared with its regional peers, exacerbated by domestic political uncertainties, OCBC says. It points to Prime Minister Paetongtarn Shinawatra's temporary suspension as a significant factor weighing on negotiation prospects. OCBC lowers its 2025 GDP growth forecast for Thailand to 1.8% from 2.0%. (amanda.lee@wsj.com)
(END) Dow Jones Newswires
July 08, 2025 04:24 ET (08:24 GMT)
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