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Commerce to petition US for tax exemption

Commerce to petition US for tax exemption
Written by Thailand News

The Ministry of Commerce is now working with the private sector to petition for tariff exemption after US President Donald Trump invoked Section 232 of the Trade Expansion Act of 1962 to impose new tariffs of 25 percent on imports of steel and 10 percent on imports of aluminum.

The ministry’s move came after the US government announced details of the new taxes as well as guidelines for application for tax exemptions.

Under the guidelines, the main criteria to qualify for exemptions is that the applications for these dispensations can only be made by US importers who must prove that the products are indispensable for their purposes and either there is limited local production of the products or there is inadequate local supplies of said goods.

The ministry’s Department of Foreign Trade has now been tasked with making and official application for dispensation on a country basis so that Thailand can be removed from the taxable countries list for steel and aluminum.


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