webfact Posted November 8, 2020 Share Posted November 8, 2020 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 - Whatever you're going through, the Samaritans are here for you - Follow Thaivisa on LINE for breaking COVID-19 updates 1 1 Link to comment Share on other sites More sharing options...
Popular Post Grumpy John Posted November 8, 2020 Popular Post Share Posted November 8, 2020 The GSP should be dropped altogether. It's time Thailand realised other countries want a level playing field. 6 1 1 Link to comment Share on other sites More sharing options...
Popular Post yellowboat Posted November 8, 2020 Popular Post Share Posted November 8, 2020 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. 1 5 Link to comment Share on other sites More sharing options...
PatOngo Posted November 8, 2020 Share Posted November 8, 2020 Nihao ma! Welcome! 2 Link to comment Share on other sites More sharing options...
outsider Posted November 9, 2020 Share Posted November 9, 2020 (edited) Welcome China's new outpost. 'Ni hao krub'. Edited November 9, 2020 by outsider Link to comment Share on other sites More sharing options...
Popular Post Geoffggi Posted November 9, 2020 Popular Post Share Posted November 9, 2020 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 ...........!!!!! 4 1 Link to comment Share on other sites More sharing options...
hotchilli Posted November 9, 2020 Share Posted November 9, 2020 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 ! 1 Link to comment Share on other sites More sharing options...
hotchilli Posted November 9, 2020 Share Posted November 9, 2020 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 ^^ Link to comment Share on other sites More sharing options...
Scott Tracy Posted November 9, 2020 Share Posted November 9, 2020 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. 1 1 Link to comment Share on other sites More sharing options...
terryofcrete Posted November 9, 2020 Share Posted November 9, 2020 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 . 1 Link to comment Share on other sites More sharing options...
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