Mr. Jesada (left), Mr. Arm (center), and Mr. Wasin (second from the right) attended the Finnomena press conference. The platform is bullish on U.S. investments.
The United States, India, and Vietnam are three major markets worth investing in to mitigate the impact of anticipated import tariff policies under the next president. donald trumpsays digital wealth management platform Finomena.
Jesada Skudis, founder and chief executive officer of Finnomena, said investment opportunities under Trump 2.0 are expected to increase by reducing corporate taxes and increasing tariffs on imports from countries such as China. He said it should be beneficial for small and medium-sized businesses. .
Unlike other segments that have hit all-time highs, the stock prices in these three sectors have remained stable, which is why Finnomena recommends these assets to investors.
Vasin Parisan, managing director of Finnomena subsidiary Definite Investment Advisory Securities, said India and Vietnam should be the main beneficiaries of manufacturing moves from China.
The brokerage noted that Vietnam is supported by its upgrade from a frontier market to an emerging market.
Arm Tungnirung, director of the Center for China Studies at Chulalongkorn University, said he was surprised by the outcome of the US presidential election, in which Trump won in a landslide and both houses of Congress went Republican.
“This happened because the public is not satisfied with the economic performance of the United States,” he said at a recent investment forum hosted by Finnomena.
Arm said Trump's policies in his second term will likely be very different from his first because he has gained experience.
He said President Trump has three important policies, and the most important tactic is trade tariffs. President Trump announced that his new administration would quadruple tariffs on Chinese products and increase tariffs on global products by 10%.
“We also have to pay attention to who will be joining the economic team, including the Treasury secretary and the trade representative,” Arm said.
“The same group that oversaw trade policy with China during President Trump's first term will likely be tougher this time around, because they have received more money in import tariffs in the past. The goal of India and Mexico this time is to move factories back to the United States.
He said that in the short term, China would be hit hard by the trade war. Economists predict that the tariffs will have a 2% impact on China's GDP, while other countries could also be affected by the tariff hikes.
“Thailand needs to prepare for this. But in the long run, if this policy is not successful, the US economy will face problems. This policy is self-defeating. We’re going to make sure that,” Arm said.
Regarding U.S. policy to cut off technology from China, he said a compromise would likely be reached by banning TikTok in the U.S. or allowing Chinese electric car makers to set up factories across the ocean.
“This is different from the Biden administration, which refused to discuss this issue with China,” Arm said.
Regarding geopolitics, Trump said he believes global conflicts will decrease because he is the only US president who has not started new wars. As a result, tensions in the Middle East, the South China Sea, and the Taiwan Strait are likely to ease.
Mr Arm said Thailand should benefit from the easing of global geopolitical issues and the relocation of some production sites from China to Thailand to avoid a trade war.
“But we have to deal with the increasing number of Chinese products entering the domestic market,” he said.
