Thailand’s Trade Data Point to Tariff-Bypassing Shipments

Thailand’s trade with the US and China swung to record extremes last year, suggesting its role as a conduit for firms seeking to bypass President Donald Trump’s tariffs.

The Southeast Asian country’s trade surplus with the US surged to $51.4 billion in 2025, from $35.6 billion a year earlier, while its deficit with China widened to $67.9 billion, from $45.3 billion, Commerce Ministry data showed Friday.

Against the backdrop of Thailand’s weak factory output, the data point to a rise in transshipments, with goods routed from China through the country before being exported to the US, helping companies ...