Thailand's central bank is closely watching potential additional US tariffs under Section 301 related to excess capacity, which could be announced in August. Currently, Thailand faces a 12.5% tariff on forced labor concerns, lower than initially feared. The BoT also notes that Q3-Q4 economic growth may be supported by government stimulus (ending September) and returning tourism, though inflation for the year may run slightly below expectations. Close monitoring of factory closures and labor market impacts remains critical.