Investors have set their eyes on “seriously looking at Thailand ” as the U.S.-China trade war ramps up, according to the president and CEO of U.S.-ASEAN Business Council, Alexander Feldman.
Vietnam has frequently been cited as one of the largest beneficiaries in the trade war as companies shift their production out of China to avoid tariffs.
However, Vietnam’s labor market is tightening, and businesses are now looking to move manufacturing into other Asian countries instead — and that includes Thailand, Feldman told CNBC on Tuesday.
The U.S.-China trade war, which has lasted over a year, has seen both countries impose duties on billions of dollars worth of imports from each other. In a tweet last Friday, after announcing more tariffs on Beijing, U.S. President Donald Trump “ordered” American companies to “immediately start looking for an alternative to China.”
According to Feldman, three “name brand” companies are already moving people from China to Thailand. He did not name them.Read More
Are you enjoying the article? Join our community for even more!