Shares of leading Thai industrial park developers, Amata Corporation Public Company Limited (SET: AMATA) and WHA Corporation Public Company Limited (SET: WHA), rallied sharply on Thursday following a U.S. federal court decision to halt the implementation of President Donald Trump’s reciprocal tariffs.
Experts noted that investor sentiment had previously soured over the threat that Thailand’s exports could face a steep 36% retaliatory tariff, which had undermined the country’s allure as a destination for foreign manufacturers seeking to relocate. Thursday’s court order suspending the tariff plan has reignited optimism, buoying prospects for the sector.
In early trading, Amata’s stock jumped as much as 12.7%, while shares of WHA climbed 7%, reflecting renewed confidence in Thailand’s industrial operators.
On Wednesday, a U.S. federal court ruled that President Donald Trump overstepped his executive powers with the imposition of reciprocal tariffs, striking at a central pillar of his economic policy agenda.
In their decision, the judges determined that the 1977 International Emergency Economic Powers Act (IEEPA)—the statute cited by Trump as legal grounds for his tariffs—does not authorize the president to impose such broad import duties, as enacted last month.
As a result, the court issued a sweeping remedy, ordering that the tariffs in question be vacated and permanently barred from enforcement.
