Post by account_disabled on Jan 1, 2024 6:42:43 GMT
"Commerce" revealed that 573 products were cut from GSP. Confirming little impact on exports Except for items where the rights are used a lot, indicating heavy use. 5db530d67b7d9-690x450 "Commerce" summarizes the United States A total of 573 Thai GSP items were cut, accounting for 40% of products for which Thai rights were exercised in 2018. Revealing the cuts in rights. It has little effect on exports. But some items that use a lot of rights may have a stronger effect than others. Recommend accelerating diversification of export risks to additional markets. To compensate the US market, Ms. Pimchanok Wonkorphon, Director of the Office of Trade Policy and Strategy (TSA), revealed the case in which the US It has been announced that some customs tax privileges (GSP) that have been granted to Thailand will be cut.
According to an investigation, it was found that the United States will cut Buy Bulk SMS Service Thai GSP rights on 573 items, accounting for 40% of the number of products used by Thailand. Rights in 2018 total 1,485 items, which will come into effect on 25 April 1920 and 7 rights will be returned to Thailand, which will have an impact on exports equivalent to approximately 0.01% of Thailand's total exports on average. yearly However, there are some products that use a lot of rights that may be more affected than others . In 2018, Thailand used only 355 GSP rights (out of 573 items) worth 1,279.8 million USD. and has an average exercise rate of 66.7%, such as processed seafood, pasta, various types of nuts, fruit jams, fruit juices, soy sauce, chemicals, kitchen equipment and household items, electric motors, steel sheets and stainless steel, musical instruments, and fishing equipment.
Thai export costs will increase by approximately 50.33 million US dollars. This is because this group of Thai products will be subject to higher import taxes of 4.5% on average (based on the MFN rate of the United States in 2018) . It has a limited impact on Thai exports. Higher tariffs could hurt the value of exports to the United States. For products in the group whose rights were cut in 2020 (when the measure came into effect), the value decreased by 28.8 - 32.8 million USD. or accounting for 0.01% of Thailand's total export value” for product groups that are expected to be most affected. (Reliance on GSP rights of more than 50% and market share less than 10%) include consoles, tables and other bases installed with equipment (HS8537), motorcycles (HS8711), eyeglasses or goggles/goggles.
According to an investigation, it was found that the United States will cut Buy Bulk SMS Service Thai GSP rights on 573 items, accounting for 40% of the number of products used by Thailand. Rights in 2018 total 1,485 items, which will come into effect on 25 April 1920 and 7 rights will be returned to Thailand, which will have an impact on exports equivalent to approximately 0.01% of Thailand's total exports on average. yearly However, there are some products that use a lot of rights that may be more affected than others . In 2018, Thailand used only 355 GSP rights (out of 573 items) worth 1,279.8 million USD. and has an average exercise rate of 66.7%, such as processed seafood, pasta, various types of nuts, fruit jams, fruit juices, soy sauce, chemicals, kitchen equipment and household items, electric motors, steel sheets and stainless steel, musical instruments, and fishing equipment.
Thai export costs will increase by approximately 50.33 million US dollars. This is because this group of Thai products will be subject to higher import taxes of 4.5% on average (based on the MFN rate of the United States in 2018) . It has a limited impact on Thai exports. Higher tariffs could hurt the value of exports to the United States. For products in the group whose rights were cut in 2020 (when the measure came into effect), the value decreased by 28.8 - 32.8 million USD. or accounting for 0.01% of Thailand's total export value” for product groups that are expected to be most affected. (Reliance on GSP rights of more than 50% and market share less than 10%) include consoles, tables and other bases installed with equipment (HS8537), motorcycles (HS8711), eyeglasses or goggles/goggles.