Stable with a slight increase of 2% from the previous year
Special Rates
ASEAN Free Trade Area (AFTA)
7%
Applicable if imported under AFTA agreement with proper certification of origin from the US through applicable trade agreements or partnerships.
Thailand-US Trade and Investment Framework Agreement (TIFA)
0%
Subject to specific bilateral agreements or negotiations under TIFA; requires documentation and compliance with rules of origin.
Additional Information
No additional information available.
Last updated: 1 year ago
News and Updates
Recent News
US-Thailand Trade Agreement Boosts Auto Parts Sector
A recent bilateral trade agreement between the US and Thailand has reduced barriers for the export of wheels and related parts (HS Code: 8708.70). Thai manufacturers are seeing increased demand from US automakers for cost-effective components.
2023-10-15
Impact: Positive impact on Thai exporters of wheels and parts, with potential for a 15% increase in exports to the US over the next year due to lowered tariffs.
US Imposes Quality Standards on Imported Wheels from Thailand
The US Department of Commerce has introduced stricter quality control measures for wheels and parts thereof imported from Thailand, citing safety concerns in the automotive sector.
2023-09-22
Impact: Potential delays and increased costs for Thai exporters as they adapt to new certification requirements, which could temporarily reduce export volumes by 5-10%.
Thailand Expands Production Capacity for Wheel Axle Assemblies
Major Thai automotive parts manufacturers have invested in new facilities to produce wheels with fitted axles, targeting the US market amid rising demand for electric vehicle components.
2023-08-30
Impact: Expected to strengthen Thailand's position as a key supplier to the US, potentially increasing market share in the wheels and parts segment by 8% in the next two years.
Policy Updates
US Tariff Reduction on Thai Automotive Parts
The US Trade Representative announced a temporary reduction in tariffs on specific automotive parts, including wheels and parts thereof (HS Code: 8708.70), imported from Thailand under the Generalized System of Preferences (GSP) renewal.
Date: 2023-10-01
Thailand Updates Export Compliance for Auto Parts
Thailand's Ministry of Commerce has implemented new export compliance guidelines for automotive parts, including wheels with fitted axles, to align with US safety and environmental standards, effective immediately.
