BANGKOK, Aug 31 (TNA) – Kasikorn Research Center warns Thai exporters to follow up the Clean Competition Act of the United States which will impose carbon-related taxation and can affect exporters.
The center said that the US Senate proposed the Clean Competition Act which included “Carbon Pricing” for locally made products and “Carbon Border Adjustment Mechanism” (US-CBAM) for imports.
The new bill targeted petroleum products and refineries, petrochemical products, fertilizers, hydrogen, cement, adipic acid, steel and stainless steel, aluminum, glass, pulp and paper and ethanol.
In 2024 the local producers in the targeted industries in the US which emit more greenhouse gases than averages must pay a greenhouse gas tax for the amounts of the gases that exceed averages. The US will impose the tax on imports in 2026.
Kasikorn Research Center advised business operators to quickly make their production environmentally friendly and reduce their greenhouse gas emissions. Otherwise, they would face higher export costs which would compromise their competitiveness, the center said. (TNA)
