# U.S. Tariff Barriers Trigger Drop in Thai Export Levels

- Link: https://www.thailand-business-news.com/economics/249213-u-s-tariff-barriers-escalate-triggering-drop-in-thai-export-levels
- Published: 2025-10-05T12:23:20+07:00
- Author: Vivian Wei

**In August 2025, Thai exports grew 5.8% YoY, slowed by US tariffs, with strong 
electronics and gold exports. Imports surged 15.8%, causing a trade deficit and 
forecasted export contractions due to tariff risks.**

### Export Performance and Key Drivers in August 2025

In August 2025, Thailand’s export value reached USD 27,743.19 million, growing by
5.8% year-on-year (YoY), which slowed considerably from 11.0% in July and missed
expectations. Seasonally adjusted data showed a slight month-on-month contraction,
continuing a declining trend since July. Export growth was mainly supported by electronics
exports to the United States and significant gold exports to Switzerland and ASEAN
countries. Notably, electronics products such as computers and electrical components
maintained strong growth despite the phased U.S. import tariffs introduced from 
August 7, which affected overall export growth momentum.

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### Imports Surge and Trade Deficit Widening

Imports accelerated sharply in August to USD 29,707.6 million, up 15.8% YoY, surpassing
forecasts. Growth was broad-based, led by capital goods imports from China, consumer
goods, raw materials including gold, and vehicle-related products. The surge in 
imports resulted in a trade deficit of USD 1.96 billion, reversing the surplus trend
of the previous three months. Particularly large increases in precious stones, jewelry,
and electrical circuit board imports from the U.S. and Taiwan contributed to the
import surge and widened the trade deficit, reflecting rising domestic demand and
complex supply chain dynamics.

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### Risks and Challenges from U.S. Tariffs

Looking ahead, risks to Thai exports remain high due to the imposition of U.S. reciprocal
tariffs and potential additional specific tariffs, especially on electronics—the
key export category. The U.S. tariff system is complex, with layered tariffs including
reciprocal, specific, and special tariffs under Section 232, which could exceed 
the negotiated 19% rate. This complexity creates uncertainty, potentially affecting
about 35% of Thailand’s exports to the U.S. Additionally, factors such as currency
appreciation and a high base effect may pressure exports. Ongoing geopolitical tensions
and tariff reviews further exacerbate the risks facing Thai exporters for the rest
of 2025.

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