BANGKOK, Nov 2 (TNA) – The United States announced to revoke its tariff privileges for Thai exports under its Generalized System of Preferences (GSP) on Dec 30 but the government does not see a serious impact.
Keerati Rushchano, director-general of the Department of Foreign Trade, said the GSP revocation concerned Thai exports worth US$817 million and resulted from the viewpoint of the US that it was unfair to give the tariff benefits to the Thai exports, especially pork and products using ractopamine which the US wanted to export to Thailand while Thailand was protecting local consumers and producers.
The GSP revocation affects 231 Thai product items worth US$817 million or about 25.4 billion baht but the benefits had been actually exercised for 147 product items worth about US$604 million or about 18 billion baht. They will be subject to tariff rates of 3-4% worth only US$19 million or about 600 million baht. Quality products would, however, secure demand from the US, Mr Keerati said.
To help affected exporters, the Ministry of Commerce would conduct marketing campaigns through online and offline channels for the exports and coordinate loans with financial institutions to support exporters’ liquidity, he said. (TNA)
