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1、CoverResearch IntelligenceImpact of Trade War 2.0on the Thai EconomyMarch 2025Krungsri ResearchContentExecutive Summary3Introduction4Looking Back at Trade War 1.0 Under Trumps First Term and Its Impacts5Scenario Analysis of Trade War 2.0 Under Trumps Second Presidency7Krungsri Research View:Trade Wa

2、r Outlook and Implications for Thai Economy21References22Unless explicitly stated otherwise,this publication and all material therein is under the copyright of Krungsri Research.As such,the reuse,reproduction,or alteration of this text or any part thereof is absolutely prohibited without prior writt

3、en consent.This report draws on a wide range of well-established and trustworthy sources,but Krungsri Research can make no guarantee of the absolute veracity of the material cited.Moreover,Krungsri Research will not be held responsible for any losses that may occur either directly or indirectly from

4、 any use to which this report or the data contained therein may be put.The information,opinions,and judgements expressed in this report are those of Krungsri Research,but this publication does not necessarily reflect the opinions of Bank of Ayudhya Public Company Limited or of any other companies wi

5、thin the same commercial group.This report is an accurate reflection of the thinking and opinions of Krungsri Research as of the day of publication,but we reserve the right to change those opinions without prior notice.DisclaimerFor research subscription,Subscribe UsContentTrade War 2.0Amid concerns

6、 over a new round of the US-China trade war following Trumps re-election as US president,Krungsri Research has conducted this analysis to evaluate its impact on both the global and Thai economies,utilizing the GTAP model under three scenarios:(i)the US imposes a 60%tariff on all imports from China,(