Victory for the few
Re: "Thais will not slash all tariffs: Paopoom voices fear of hit to industries", (BP, July 18).
Thailand's recent success in negotiating a 19% reciprocal tariff on exports to the United States -- down from the 36% -- has been framed as a diplomatic and economic win. The result places Thailand on par with regional peers such as Cambodia, Indonesia, and Vietnam. With the US accounting for roughly 18% of Thai exports, this outcome undeniably matters.
But while trade negotiators led by Finance Minister Pichai Chunhavajira and Deputy Minister Paopoom Rojanasakul exercised caution in talks with the USTR, one must ask: Whose interests were they protecting?
Mr Paopoom has argued that fully opening Thai markets could jeopardise local producers, particularly farmers and SMEs. Yet these very groups already struggle under the weight of monopolistic domestic structures in the hands of a few powerful conglomerates spanning retail, telecoms, agriculture, and more. This economic reality translates into fewer choices, inflated prices, and limited upward mobility. In agriculture -- where nearly one-third of the workforce is employed -- smallholders are frequently bound by contract farming schemes that limit their independence and entrench rural poverty.
Meanwhile, the close nexus between politics and business continues to insulate monopolies from genuine competition. In this light, Thailand's trade talks with the US offered more than a moment to fend off tariffs -- they offered an opportunity for economic introspection. Did we use that moment wisely?
While defending vulnerable sectors is important, real reform demands more than defensive posturing. It requires confronting the structural inequalities that undermine inclusive growth and hold back long-term competitiveness.
Thailand must ask itself: Is it safeguarding its people, or merely protecting the entrenched interests of a few?