Thailand in talks with US on tax waiver for Thai steel

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The Thai Ministry of Commerce is awaiting a decision from the United States following its request for an exemption of import tariffs on steel products from Thailand.

After the US government resolved to increase duties on steel imports to 25 percent in March, Adul Chotinisakorn, Director-General of Thailand’s Department of Foreign Trade, disclosed that the Ministry of Commerce had submitted a letter to the Office of the United States Trade Representative (USTR), asking the agency to consider exempting Thailand from steel tariffs just as South Korea has been excepted.

According to the Director-General, the request had earlier been discussed with the USTR during the Thai-US Trade and Investment Framework Agreement Joint Council Meeting in early April. In the meantime, the department has assisted Thai steel exporters to negotiate with importers in the US in seeking tax waivers for certain products.

As the USTR has accepted the request for consideration, Adul confirmed that the Commerce Ministry is keeping an eye out for any decision from the agency.