Thai Manufacturers Urge Commerce Ministry to Assess US Trade Act Section 301 Impact

The Federation of Thai Industries (FTI) has indicated its intention to expedite discussions with the Ministry of Commerce regarding the suspension of Generalized System of Preferences (GSP) benefits by the United States for Thailand. This measure could have a severe impact on Thailand's manufacturing sector, particularly industries reliant on exports to the U.S., prompting the FTI to call for a swift impact assessment and countermeasures. The FTI is seeking to conduct a detailed analysis with the Ministry of Commerce on how this GSP suspension will affect Thailand's export competitiveness, as well as the specific impact on various product categories and companies. Risks of ripple effects throughout the entire supply chain are also being highlighted, especially if major export items such as automotive parts and electronics are affected. While the Thai government has been closely monitoring U.S. trade policy trends and preparing to minimize anticipated impacts, the FTI's latest move underscores the gravity of the situation. Both parties are expected to discuss concrete strategies to navigate this challenge.