# Flash: Trump 2.0 and Its Impact on Global and Thai Economies

- Link: https://www.thailand-business-news.com/economics/175694-flash-trump-2-0-and-its-impact-on-global-and-thai-economies
- Published: 2024-11-19T15:16:12+07:00
- Author: Economic Intelligence Center Siam Commercial Bank

**The presidency of Donald Trump is anticipated to enact protectionist policies,
which could affect global trade, U.S. immigration, and economic growth. As a result,
Thailand might experience a decrease in exports and investment, potentially impacting
its economy adversely.**

## Trump’s Victory and Policy Implications

Donald Trump has secured a decisive win in the U.S. presidential election, becoming
the 47th president. His victory over Vice President Kamala Harris and a Republican
majority in Congress grants him significant power to implement sweeping changes.
Trump’s policies are anticipated to favor trade protectionism, emphasizing energy
security and potentially escalating geopolitical tensions. Key proposals include
raising import tariffs significantly, restricting immigration, and reducing defense
support for allies.

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## Global Economic Impact

The IMF’s October 2024 outlook outlines how Trump’s policies may negatively affect
the global economy. Tariff increases and trade uncertainties could hinder investment,
slowing overall growth. Meanwhile, immigration restrictions may shrink labor forces
in the U.S. and Europe, further dampening economic expansion. Tighter global financial
conditions are expected to raise borrowing costs, adding strain to emerging markets
and affecting international economic stability.

## Effects on Thailand’s Economy

Thailand faces serious risks as Trump’s trade policies could slow exports and deter
foreign investment. Increased tariffs may directly impact Thai goods, especially
electronics. Additionally, competition from Chinese imports might surge as China
seeks new markets. SCB EIC predicts a potential decline in Thailand’s GDP growth
by around 0.5 percentage points in 2025. However, if Thailand can navigate these
challenges and maintain a neutral geopolitical stance, opportunities for growth 
may emerge amidst global economic shifts.

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