The Thai government agrees to a reduction in import taxes and sends the proposal to the cabinet for final approval. Under the plan, which would be effective January 2005, import duties on raw materials would be cut to 1% from an average 7%. Taxes on semi-finished products and finished products would be reduced from 13% to 5% and to 10% respectively. The government also agreed to suspend the enforcement of anti-dumping laws on imported hot-rolled steel for five years. In return, ...

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