Thailand, along with the rest of Southeast Asia, got some temporary satisfaction when US President Donald Trump chose to do so delay for him “Editing Day“Definitions for 90 days. Now, US exports in the United States only enjoy 10 %, instead of 36 % threatening By Trump.

Asian markets have been on a wild trip since Trump first revealed his mutual definition on April 2, and it fell and rises according to the president’s statements. The Standard Technical Group Index decreased by 9 % between April 2 and April 9, to gather after Trump announced that he had stopped the customs tariff. However, the index has not yet recovered from “Liberation Day”.

“We thought that the mutual tariff was very high,” said Victor Cheng, CEO of Delta Electronics Thailand last week before Trump announced that he stopped the customs tariff.

Cheng said that the American measures caused “great anxiety and anxiety”, but he pointed out that the customers did not change or cancel any orders due to the definitions and instead they were adopting a position to wait and see. Cheng later, after Trump stopped being nurtured, added that customers were using a 90 -day stoppage on the mutual tariff to “storage”.

The CEO also explained why his customers in the United States, not his company, “bear the additional tariff at the top of the original selling price.” It indicates that most Delta Electronics Thailand products are classified as “free on the plane”, which means that the responsibility passes from the seller – for his company – to Jupiter – the American customer.

Whoever pays for customs tariffs is a major political point in the discussion on Trump’s commercial policy, where the president and his supporters claim that the government or the foreign company Pay for definitions. Most commercial professionals note that, in fact, he is the importer who pays: may pass after that, if not all, the additional cost of the final consumers. (Adult importers, such as walmart, may also be able to do so Forcing foreign suppliers To take a haircut on the price)

However, Cheng was concerned that the American definitions were very slope would still indirectly affect his company, by placing additional burdens on his customers and stimulating inflation pressure.

“The definitions will definitely have some effect,” Cheng said in a follow -up conversation after Trump’s pause.

Chen noted that in the days after “Tahrir’s Day”, the government of Thailand contacted industry associations and individual companies to understand how definitions affect their business. He expected that Thailand would reduce the customs tariff on American goods and buy more American goods, with coordination with its colleagues in Southeast Asia to negotiate with the United States as a mass.

You will send Thailand a delegation to the United States Start commercial negotiations Next week, the government said on Monday.

Focus on EVS and data centers

Delta Electronics Thailand manufactures and distributes electronics, which are the components of energy, which are used in elements including electric vehicles and data centers. The company is currently working with European and United States car makers, but Cheng Inn Electronics Thailand has started to explore work with Chinese EV makers who have Prepare the manufacturing capacity In Thailand.

EV’s dependence in countries such as Thailand, Malaysia and Singapore, partially attributed to government incentives and the emergence of Chinese Chinese cars at reasonable prices. Southeast Asia proves it attractive Chinese car maker market, due to its proximity to China and the most convenient policy situation in Beijing.

Electric cars formed 33.6 % of all new car recordings in Singapore last year, an increase of 18 % in 2023, according to government data. In neighboring Malaysia, EV sales jump 19 % to break 45000; EV sales have multiplied more than weakness in Indonesia to reach 43,000 units.

Cheng was optimistic that the Electronics Delta Thailand was able to take advantage of this wide request.

“Here in Southeast Asia, we have seen some success with EV chargers. We see sales that – whether it is AC or DC – is growing here,” Cheng explained.

Regarding the work of its data center, Thailand Electronics Delta said that American companies are an important customer base but have refused to give specific names that exceed the leader of the NVIDIA artificial intelligence chip.

What is the Thailand Electronics Delta?

Delta Electronics Thailand is a subsidiary of Delta Electronics, a Taiwanese electronics manufacturer. The prosperous EV industry helped increase revenues, profits and stock prices, which helped at some point in making the subsidiary more valuable than its mother company.

The Delta of Thailand also spent the electronics, most of them from 2024 as the most valuable Thailand, with a peak market value of about 64.1 billion dollars last November.

However, the price of the Delta shares on the slide has been since then, especially after the company has reported less profits than export in mid -February. The shares of the company have lost more than 50 % of their value since the November summit. The group decreased slightly more than 27 % during the same period.

In a March report, Yuji Takishima, an arrow -minimalist research analyst, warned that high costs and uncertainty about how the new world minimum work on corporate profits as adverse materials for profit growth.

The minimum global tax aims to inhibit multinational companies to reserve excessive profits in low -tax judicial states, by ensuring that companies pay the minimum taxes on their income in every judicial state in which they operate.

Delta Electronics Thailand was previously subject to 5.5 % tax in 2023. This will rise to 15 % starting this year as Thailand imposed a “higher” tax in January, when the country seeks to enter the organization for economic cooperation and development.

Cheng has He was previously commented The prices of the Delta Electronics Electronics are exaggerated, noting that the price rate to the profits “has gone through the roof.”

He reaffirmed this feeling in his conversation with luck And note that stock prices have become “slightly speculative”.

Cheng said he focused on “the basics of business” amid the set of customs tariffs. He said that the revenue of the Delta Electronics Thailand is still at a healthy level, and is still growing on an annual basis. 2024 revenues receipt 164.7 billion pace ($ 4.9 billion), an increase of 12.5 % over the previous year. The company’s revenues for 2023 amounted to 146.4 billion pace (4.4 billion dollars) 23.5 % from 2022 and was driven by the EV sector.

But even as EV grows, Cheng is still positive on the prosecutor’s infrastructure. At the beginning of the year, the company expected “Double -number revenue growth” led by investments.

He said: “AI Build Out is a great driving force to support revenue this year, and we also see some positive benefits of profits as well.”

This story was originally shown on Fortune.com

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2025-04-14 13:12:00