US suspends tariff privileges on over 500 Thai products
The United States suspended tariff privileges under the Generalised System of Preferences (GSP) on 573 Thai products from April 25 as originally scheduled.
Illustrative image (Photo: https://www.nationthailand.com/)Bangkok (VNA) - The United States suspended tariff privileges under the Generalised System of Preferences (GSP) on 573 Thai products from April 25 as originally scheduled.
Thai Foreign Trade Department Director-General Keerati Ratchano said on April 27 that a few weeks ago Deputy PM and Commerce Minister Jurin Laksanawisit wrote to the United States Trade Representative (USTR) and President Donald Trump asking to postpone the suspension as Thailand, like most countries, has been heavily affected by the Covid-19 outbreak.
The US side rejected Thailand’s appeal and proceeded on April 25 with their original plan, resulting in 573 Thai products now having no GSP privilege and now being subject to an average 4.7 percent of tariffs instead of zero percent, he added.
In 2019, Thailand’s total exports to the US amounted to 31.19 billion USD, including products that were under the GSP./.
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