泰国大城银行研究中心：2025贸易战2.0：迫在眉睫的长期风险研究报告（英文版）（17页）.pdf

1、CoverTrade War 2.0:Lingering Risks on the HorizonResearch IntelligenceDecember 2025Krungsri ResearchContentsSubscribe UsContentsDisclaimerUnless explicitly stated otherwise,this publication and all material therein is under the copyright of Krungsri Research.As such,the reuse,reproduction,or alterat

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5、For research subscription,Executive Summary3Recent Developments on U.S.tariffs4Direct Impacts from U.S.tariffs8Twin Influx9Expansion of Section 232 Tariffs10Potential Transshipment Tariffs11Krungsri Research View13References15The announcement of a framework for a trade agreement between Thailand and

6、 the U.S.on October 26 might be considered“good news”by many parties.However,Thailand had to make substantial concessions to the U.S.in exchange for a reciprocal tariff of 19%,which is higher than the Effective Tariff Rate(ETR)previously imposed on Thailand,averaging only 0.7%.Meanwhile,Thailand rem