บทวิเคราะห์ (Research)

TRIS Rating expects the direct impact of the potential U.S. tariffs on corporate issuers to be limited. Out of the 225 corporate issuers rated by TRIS Rating, fewer than 5% are likely to be affected. • Only seven issuers have direct exports to the US, spanning three key sectors—processed foods (including seafood and pet foods: TU, CPF, BTG), rubber products (STA, STGT, TEGH), and electronics and electrical equipment (SNC). Collectively, these companies generated approximately THB1 trillion in revenue in 2024, with US exports accounting for just 6% of that total. Of this, only 4.4% of total revenues are estimated to be subject to potential tariffs. • While the direct exposure to tariffs remains limited, TRIS Rating cautions that the broader macroeconomic backdrop would pose a greater threat. Weak domestic consumption, coupled with potential shifts in supply chain which may lead to lower foreign direct investment (FDI) and private investments, could pressure the performance of rated issuers in the short to medium term