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New tariff on Thai goods to take effect this Thursday

New tariff on Thai goods to take effect this Thursday

10 Sept 14:08 Key points summarised by AI
  • A 19% reciprocal tariff on Thai imports to the US market will become effective on August 7th, following a joint statement from Thailand and the United States.
  • Thailand's Deputy Commerce Minister, Chantawit Tantasith, is actively amending trade regulations and consulting with industrial and agricultural sectors to help businesses, particularly SMEs, prepare for the new rules and explore new markets through free trade agreements (FTAs).
  • Pote Aramwattananont, president of the Thai Chamber of Commerce, advises exporters to strategically plan shipments, noting goods sold in the US before October 5th will face a 10% tariff, while those sold after will incur the full 19%.
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