Many Thai products to lose GSP privileges in the US
Trade port. Photo by The Nation. Sketched by the Pan Pacific Agency.
BANGKOK, Oct 27, 2019, The Nation. Thailand’s Department of Foreign Trade will announce on Monday the details of its suspension of duty-free treatment for some Thai products under the Generalised System of Preferences (GSP), reported The Nation.
This follows US suspension on Friday of such preferred treatment for Thai products worth around US$1.3 billion, citing the country’s failure to improve its labour rights to meet international standards.
The US Trade Representative reportedly stated that the measure will take effect in the next six months. The duty-free treatment on all of Thailand’s seafood exports to the US also will be revoked.
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