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US trade move ‘won’t hurt Thai exports’

US trade move ‘won’t hurt Thai exports’

GSP suspension imposes ordinary tax rate

Thai exports to the United States under the so-called Generalized System of Preferences will not be affected won’t much affect by the US decision. (Bangkok Post file photo)

The Commerce Ministry insisted on Saturday the announcement by US President Donald Trump to suspend preferential trade benefits for 231 Thai products under the so-called Generalized System of Preferences (GSP) won’t much affect Thailand’s export to the US.

Effective on Dec 30, the new GSP suspension will result in these products being taxed at a normal rate, not that they will be banned from entry to the US, said Keerati Rushchano, director-general of Department of International Trade Promotion.

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