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Thailand sees drop in low-quality imports from China: Thailand has recorded a 20% decline in low-quality imports after taking steps to reduce Chinese imports dumping that, government spokesperson Sasikarn Wattanachan told Reuters. The government implemented measures in July to crack down on imports and seized some THB 506 mn (c. USD 15 mn) worth of imported goods including counterfeit products, shirts, shoes, and e-cigarettes. The Southeast Asian country also started levying a 7% VAT in July under THB 1.5k, though imports continued regardless.
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More to come: Additional measures will be introduced to support Thai businesses, such as mandating foreign online companies to establish a presence in Thailand and register for VAT payments, Wattanachan said.
US TikTok users ratcheted up USD 100 mn in sales on Black Friday using the TikTok Shop capturing a significant stake of the e-commerce market, Reuters reports, citing estimates from TikTok and a Reuters analysis of spending trends based on data from Facteus. TikTok Shop debuted in the US in September 2023 and serves an e-commerce channel for major global brands, including e.l.f. Cosmetics and Ninja Kitchen.
Dark clouds are on the horizon: A US federal court on Friday upheld a law requiring Chinese-based ByteDance to divert from TikTok in the US by early next year or face a ban, which could extend to TikTok Shop as well. “TikTok Shop is a new distribution channel and brands are doing really well on it,” CEO of marketing agency Hawke Media Erik Huberman told Reuters, “there isn’t an alternative. It will be a lost revenue stream.”
