Korn points out that the issue of Trump’s 10% tariff turns a crisis into an opportunity for Thai and global trade, while highlighting vulnerable points in Thailand’s economy where purchasing power remains weak.
22 Feb 2026 GMT+7 Mr. Korn Chatikavanij, Deputy Leader of the Democrat Party, and former Minister of Finance, postedon Facebookregarding the US Supreme Court’s 6-3 decision ruling that the reciprocal tariffs under the IEEPA law imposed by Donald Trump’s administration are unconstitutional and exceed authority, stating that Trump’s new 10% tariff is good news for Thai and global trade. After the US Supreme Court struck down Trump’s original tariffs, Trump announced the use of Section 122 of the Trade Act of 1974 instead, imposing a uniform 10% tariff on all countries worldwide. In the US, this will cause complications involving refunding importers, with expected refunds potentially reaching as high as 3 trillion baht.
For countries like Thailand, which had been negotiating to maintain the previous 19% rate, this seems to be a relief, as the tariff is now reduced to 10%, equal to other countries. Section 122 grants the president temporary authority to set tariffs for 150 days only. Notably, the law sets a maximum tariff of 15%, but Trump chose to impose only 10% on all countries, suggesting his announcement was more about saving face than a serious tariff policy. Extending beyond 150 days requires Congressional approval, which is difficult, especially given ongoing legal ambiguities regarding the law’s interpretation.
Mr. Korn also stated, “Thai exports are likely to improve, especially since Trump has exempted many product categories, such as foods they cannot produce, some electronics, and even certain pickup trucks. However, Thailand’s economic problem is less about exports and more about very weak domestic purchasing power, low credit availability, and debt repayment risks in both household and business sectors. On the international front, we cannot be complacent. Trump may try to save face by creating or escalating tensions related to conflicts with Iran, which would be positive if resolved through negotiations but very negative if military force is used.”