CTA, Others Urge Delaying Suspension of Duty-Free Treatment of Thai Goods
The Trump administration should suspend duty-free treatment under the Generalized System of Preferences program for certain products from Thailand amid the “rapidly deteriorating economic conditions” from the COVID-19 pandemic, wrote CTA and 16 other trade associations Friday. The suspension, scheduled…
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to take effect Saturday, would raise costs for U.S. employers already “struggling to maintain employment levels in response to shutdowns and falling demand around the world,” said the letter, which the National Retail Federation and the Retail Industry Leaders Association also signed. They asked the White House to delay implementation for at least six months, “or until the current emergency ends.” Many of the 22 million U.S. jobless claims filed in the past four weeks “are the result of government-mandated shutdowns to help slow the spread of COVID-19,” said the trade groups. “Liquidity is a major concern for businesses of all types as we wait for the pandemic to slow and the economy to reopen.” The White House didn't comment Monday.