Trump's Tariffs on BRICS Countries Boost Thai and ASEAN Exports

Strategic Insights -

Thailand's economic growth rate has surpassed 2% this year, driven by the increasing competitiveness of Thai and ASEAN exports in the US market due to Trump's tariffs on BRICS countries. The imposition of significantly different tariffs on BRICS and ASEAN countries has altered competition between BRICS and ASEAN exports in the US market, with some export products losing competitiveness while others have gained new market share.

Key Takeaways:

  • Trump's tariffs on BRICS countries, which are higher than ASEAN countries, have increased export opportunities for Thailand and ASEAN, pushing GDP growth beyond 2%.
  • The tariffs imposed on BRICS countries have significantly reduced their competitiveness in the US market, while creating opportunities for Thai and ASEAN exports to compete with BRICS.
  • Thailand, Indonesia, Vietnam, and Malaysia have the potential to increase their market share of rubber and rubber products in the US market after the BRICS were hit with high tariffs.
  • Thailand and Indonesia excel in natural rubber and automotive tires, Vietnam has an advantage in bicycle tires, Singapore, Thailand, and Malaysia compete well in synthetic rubber, and Thailand and Malaysia excel in industrial rubber products.
  • Thailand holds an advantage in pickup trucks and tires, Malaysia excels in automotive electronics, and Vietnam is strong in electrical wires and motorcycle tires.
  • ASEAN has a clear opportunity to expand its market share in the US automotive and parts market, with Thailand and some ASEAN countries benefiting from the tariffs imposed on BRICS countries.

Statistics:

  • Thailand's economic growth rate has surpassed 2% this year.
  • The tariffs imposed on BRICS countries are:

+ China: 55%

+ India and Brazil: 50%

+ South Africa: 30%

+ Russia: Almost completely restricted from trade due to sanctions

  • The tariffs imposed on ASEAN countries are:

+ Thailand, Malaysia, Indonesia, the Philippines, and Cambodia: 19%

+ Vietnam: 20%

+ Singapore: 10%

+ Laos and Myanmar: 40-50%

Sources:

  • Thai News Agency, "Trump's tariffs on BRICS countries, which are higher than ASEAN, increase export opportunities for Thailand and ASEAN, pushing GDP growth beyond 2%", 10 Aug 2025
  • University of the Thai Chamber of Commerce, Faculty of Economics and Director of the Digital Economy, Investment and International Trade Research Center (DEIIT), Dean Assoc. Prof. Dr. Anusorn Thamjai