US trade move ‘won’t hurt Thai exports’: GSP suspension imposes ordinary tax rate. The Commerce Ministry insisted yesterday the announcement by US President Donald Trump to suspend preferential trade benefits for 231 Thai products under the so-called Generalized System of Preferences (GSP) won’t much affect Thailand’s export to the US. Bangkok Post
Phuket chamber lobbies for ‘special status’ boost : The Phuket Chamber of Commerce looks set to ask cabinet to approve its long-term plan to make the province into a special administrative area, saying the move would help it catch up with its projected economic growth before the Covid-19 pandemic. Bangkok Post
GSP suspension gauged to cost $19m in losses : 147 items entered US duty-free in 2019. The government insists the suspension of preferential trade benefits for certain Thai products by the US under the Generalized System of Preferences (GSP) is estimated to cause losses of only US$19 million or 600 million baht. Bangkok Post
FPO upgrades 2020 GDP decline to 7.7% : Figure based on trade partners’ recovery. GDP contraction is projected to be less severe than previously estimated based on a recovery among Thailand’s Asian trading partners, without factoring in domestic political turbulence, says the Fiscal Policy Office (FPO). Bangkok Post
TAT says all arrivals must stay at ASQ facilities in Bangkok : All inbound tourists have to complete quarantine at alternative state quarantine (ASQ) facilities in Bangkok in the first stage of reopening, with direct flights to provinces still postponed, says the Tourism Authority of Thailand (TAT). Bangkok Post
3 ex-PMs invited to reconciliation panel : Chuan calls in extra help to resolve crisis. Three former prime ministers have hinted at the possibility of joining the proposed reconciliation committee being set up to resolve the ongoing political conflict. Bangkok Post
Ministry targets 10m high-season trips : The Tourism and Sports Ministry has committed to pushing for 10 million domestic trips per month during high season following the cabinet’s approval of more financial aid measures yesterday. Bangkok Post
Trump declares early poll victory : Vows court action to stop count in knife-edge election. The US election was plunged into chaos early yesterday as President Donald Trump prematurely declared victory and sought Supreme Court intervention to stop vote-counting – even as his Democratic rival Joe Biden voiced confidence in his own chances. Bangkok Post
Youth groups spurn reconciliation panel pitch : Anti-government protesters under the Ratsadon group’s banner yesterday refused to join parliament’s proposed reconciliation committee, calling it a ruse to keep Prime Minister Prayut Chan-o-cha in power. Bangkok Post
BoI grants perks to EV manufacturers : The Board of Investment (BoI) chaired by Prime Minister Prayut Chan-o-cha yesterday approved a fresh privilege package for electric vehicles (EVs) following the expiration of the previous package in 2018. Bangkok Post
