Trade Is Allowed Between the United States and Myanmar…for Now
TGA wishes to clarify this week’s U.S. government announcement on Myanmar (Burma). Many press outlets incorrectly described the announcement as suspending all trade between the U.S. and Myanmar. Trade is still allowed between the United States and Myanmar. Instead, the announcement only suspends trade talks between the U.S. and Myanmar under the U.S./Burma Trade and Investment Framework Agreement (TIFA). Further, the announcement states that the Biden administration will attempt to remove Myanmar as a GSP beneficiary when Congress renews the Generalized System of Preferences (GSP) program later this year. Please note that while trade is allowed to continue between the United States and Myanmar, refunds of duties paid since GSP expiration could be in jeopardy if Myanmar is not part of GSP renewal. Further, if the situation in Myanmar continues to deteriorate, the U.S. might decide to impose further sanctions in Myanmar. Myanmar is the 4th largest supplier of travel goods to the U.S. market.