i-Tail chief executive Roy Chan says the company expects positive news on its potential M&A deal in China in the third quarter.
Global pet food manufacturer i-Tail Corporation Plc (ITC), a subsidiary of Thai Union Group (TU), is not concerned about a US investigation into imports from Thailand that could lead to higher tariffs and is confident about its competitiveness.Thailand is among the 46 countries subject to a 12.5% tariff, along with China, Brazil, South Korea and Switzerland, as the US Trade Representative accused dozens of trading partners of failing to impose or enforce bans on imports of goods made with forced labour.
For Thailand, the probe under Section 301 of the US Trade Act is expected to address forced labour related to fish, fish oil, pet food and garments made in Thailand from imported raw materials.
"ITC is not concerned about this issue because our competitors would face the same rate. The competition field is quite fair," said Roy Chan, chief executive of ITC.
He said at least 99% of tuna sourced within TU's supply chain is traceable, and the company is committed to responsible sourcing.
