With China in background, Thailand shrugs off US suspension of duty-free tariffs

-- The US is to suspend duty-free tariffs it says are worth US$817 million following a disagreement over Thailand’s ban on American pork

 

-- Thailand has downplayed the move’s impact. While its exports and tourism driven economy has been hit by Covid-19, China has give it a recent boost

 

Jitsiree Thongnoi

 

A worker passes a China Shipping Group container at a depot in Bangkok, Thailand. Photo: Bloomberg

 

Thailand has shrugged off a move by the United States to suspend an additional US$817 million in preferential trade tariffs after President Donald Trump accused it of failing to ensure “fair and reasonable access to its markets”.

 

The Thai economy is already struggling as the coronavirus hits two of its biggest sectors – tourism and exports – and is facing a projected contraction in GDP of 7.7 per cent by the end of the year.

 

Despite this Thailand’s commerce industry this week played down the suspension, saying the move “wouldn’t hinder” its export industry, which contracted by 7.3 per cent in the first nine months of the year.

 

The US measures, announced by Trump on October 30, suspend the duty-free treatment of 231 Thai products covered by the Generalized System of Preferences (GSP), America’s largest trade preference programme, which covers about 3,500 products from 119 countries and territories. The goods will still be allowed into the US, but they will be taxed at a normal rate from December 30 when the order comes into force.

 

Full story: https://www.scmp.com/week-asia/politics/article/3108628/china-background-thailand-shrugs-us-suspension-duty-free-tariffs

 

-- © Copyright South China Morning Post 2020-11-09

 

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The GSP should be dropped altogether.   It's time Thailand realised other countries want a level playing field.

In China, I saw advertisements for US pork being sold at local grocers.   This may be news to some, but China has trouble with animals and diseases.   

Nihao ma! Welcome!

Welcome China's new outpost. 'Ni hao krub'.

Edited November 9, 20205 yr by outsider

If not already too late Thailand needs to beware of with whom it gets into bed with, it is well known China does not play well with others ...........!!!!!

6 hours ago, webfact said:

Despite this Thailand’s commerce industry this week played down the suspension, saying the move “wouldn’t hinder” its export industry, which contracted by 7.3 per cent in the first nine months of the year.

No worries then !

4 hours ago, yellowboat said:

In China, I saw advertisements for US pork being sold at local grocers.   This may be news to some, but China has trouble with animals and diseases.   

Diseases I knew about as does the world... pork is a new one thought ^^

The US is not the be all and end all of imports and exports. Their markets would be nice, but there are billions of other customers outside the US.

6 hours ago, Geoffggi said:

If not already too late Thailand needs to beware of with whom it gets into bed with, it is well known China does not play well with others ...........!!!!!

Don’t think they have the ability to see beyond the short term .