Countdown to July 24: U.S. to lift import tariffs on certain Thai goods
Thai entrepreneurs are preparing for good news as the 10% import tariff measure under Section 122 of the United States is set to expire on July 24, following its implementation for a period of time.
The measure has directly impacted certain groups of Thai exporters, who have had to shoulder the burden of higher costs due to the additional tariffs imposed when exporting to the U.S. market. The lifting of this measure is therefore considered a positive signal that will help reduce the tax burden and enable Thai products to compete more effectively in the U.S. market.
The end of this measure will allow Thai entrepreneurs to plan their exports with greater flexibility, particularly in product categories that were directly affected by the policy. This is expected to support a stronger recovery for the Thai export sector during the second half of the year.
However, exporters should closely monitor announcements and further details from relevant authorities to ensure that the change in tax status proceeds smoothly and that they can fully utilize the benefits of this tariff removal starting from July 24 onwards.