Thai Government Aims to Cut US Tariffs to 10%, Boosting Agricultural Stocks

HoonVision··THUS·Read original
2▲2 ▼0Impact / 5
Summary · why it matters

Asia Plus Securities stated that the Commerce Minister revealed that tariff negotiations with the US have made significant progress, with an expected conclusion within one week. The Thai government aims to reduce US tariffs to 10%, down from the current additional 12.5% imposed under Section 301 regarding forced labor. If successful, the agricultural and food sector will receive positive sentiment, especially ITC, which derives 60% of its revenue from the US, and TU, with a 40% share. Meanwhile, CPF and GFPT will benefit limitedly due to low chicken and pork exports to the US, but they will gain indirect benefits from the opening of corn and soybean meal import markets. The research department maintains an overweight recommendation and selects ITC as the top pick.

Impact on assets 4

Consumer Staples▲ · 4 stocks
i-Tail Corp. PCL
ITC
▲ PositiveTariffrelevance

ITC derives 60% of revenue from US, tariff cut to 10% is positive.

Thai Union Group PCL
TU
▲ PositiveTariffrelevance

TU has 40% US revenue share, tariff reduction boosts its outlook.

GFPT Public Company Limited
GFPT
± MixedTariffrelevance

Limited direct benefit due to low US exports, but indirect benefit from corn and soybean meal import market opening.

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