US President Donald Trump has said the United States will suspend preferential trade benefits for some Thai products under the Generalized System of Preferences (GSP) effective December 30.
Trump wrote in a letter to Congress that he had decided that Thailand did not guarantee the United States that Thailand would provide fair and reasonable access to its markets. Therefore, he decided that it would be appropriate to suspend the preferential treatment implemented under the Generalized System of Preferences (GSP) for articles that qualify for Thai products.
The United States Trade Representative Office points out that the Generalized System of Preferences (GSP), the largest U.S. trade tariff program, is designed to spur economic development by allowing access to duty-free products in the United States. About 3,500 products from more than 100 countries and territories benefit from this.
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