In response to a surging trade deficit and the influx of inexpensive Chinese products, the Thai government is considering the implementation of a seven percent value-added tax on certain Chinese imports priced below 1,500 baht. This move, aimed at protecting local businesses, reflects Thailand’s strategic efforts to support its small and medium-sized enterprises (SMEs) that are crucial to the nation’s economic fabric. The proposed measure is expected to reshape Thailand’s trade dynamics and strengthen its economic resilience against the backdrop of its significant trade relationships.
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