Ministry of Commerce to negotiate with US to restore GSP

[webfact]

Ministry of Commerce to negotiate with US to restore GSP

By THE NATION

 

 

Keerati Rushchano /Credit :Commerce Minisrty

 

Ministry of Commerce inspector-general and acting director-general of the Department of Foreign Trade, Kirati Ratchano, said on Monday that the Ministry will negotiate with the US to restore the recently suspended Generalised System of Preferences (GSP) without using any trade countermeasures.

 

“The negotiations with United States Trade Representative (USTR) are expected to take place during 35th Asean Summit which will be held in Bangkok next month, along with negotiations for the Trade and Investment Framework Agreement Joint Council (TIFA-JC),” he said. “We are planning to discuss several issues with US representatives covering both export and labour rights.”

 

The inspector-general also insisted that the US had full authority and discretion to hand out and suspend GSP to developing countries and there could be many reasons to reconsider the preference, such as level of development, intellectual property protection, labour rights, and support of the USA’s anti-terrorism effort. “We need to negotiate the issues in detail before saying what the real reason behind this GSP suspension is,” he said.

 

Kirati further explained that the GSP suspension of 573 products does not mean that US will no longer import these products, which have total estimated valued of Bt40 billion, from Thailand, “We can still export to the US but will have to pay the tariff at 4.5 per cent on average instead of 0 per cent, or an estimated Bt1.8 billion,” he said. “Products to suffer from the highest tariff are ceramic kitchenware at 26 per cent, while the lowest tariff collected is for chemical products at 0.1 per cent.

 

Kirati also said that the GSP suspension has nothing to do with the ban of 3 agrochemicals previously approved by the Hazardous Substance Committee, as the United States has been signaling its intentions for GSP revision for quite some time.

 

“The government and Ministry of Commerce have been aware of possible GSP suspension and have prepared measures to help Thai exporters such as identifying new alternative markets and promoting the adding of value to the products,” he said. “We believe that eventually Thai exporters will survive the GSP suspension by the US in the same way they survived EU’s and Japan’s suspension earlier.”

 

Source: https://www.nationthailand.com/business/30377823

 

-- © Copyright The Nation Thailand 2019-10-29

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[Chang_paarp]

The politicians and negotiators seem to have forgotten Trump's call that Thailand was a currency manipulator, keeping their currency artificially high. He promised some sort or reaction, this is subtle in the Trump play book.

[davehowden]

"without using any trade countermeasures."

 

Go on, please do, make me laugh .......

 

[Fex Bluse]

36 minutes ago, davehowden said:

"without using any trade countermeasures."

 

Go on, please do, make me laugh .......

 

"We will withhold all HJs for US passport holders.

 

Foreigners entering massage shops will be required to show their passports before being serviced." 

 

 

[Fex Bluse]

Comprehensive article here:

https://lmgtfy.com/?q=Asia+Times+Trump's+Trade+Wrath+Turns+on+Thailand&s=g

 

[mok199]

Time to look down this rabbit hole...

[bluesofa]

3 hours ago, webfact said:

Ministry of Commerce inspector-general and acting director-general of the Department of Foreign Trade, Kirati Ratchano, said on Monday that the Ministry will negotiate with the US to restore the recently suspended Generalised System of Preferences (GSP) without using any trade countermeasures.

If the ministries think it's a witch hunt, perhaps they could also use the help of the witchfinder-general.

[30la]

Does anyone expect a positive result for Thailand?

[DannyCarlton]

13 minutes ago, 30la said:

Does anyone expect a positive result for Thailand?

                                               

[IAMHERE]

Too late for the witchfinder-general; the spin general is already in charge.????

[Redline]

Thailand has zero leverage, and the fragile economy can be crushed with ease

[Reigntax]

Maybe Prayut can organise a few coyotes be delivered to Trumps hotel room and all will be forgotten

 

I believe there are 30 or so looking for a payday down Pattaya way

[Cake Monster]

If this US GSP thing has such a small impact on Thailand,  (0.01 % GDP ) as stated on Monday, why does everybody here seem to have their Knickers in a twist over it.

After reading the Asia Times report, I now understand why a hurry up has been placed on "Thai" to buy its new Aircraft

[DLock]

Best bring some lube, Kid....things will go easier for you.