NEW YORK, Mar 05 (APP):US President Donald Trump has said he plans to end a trade arrangement that allows India to send billions of dollars’ worth of its exports into the U.S. duty-free. Trump, who has criticized India as a “very high-tariff nation,” announced his get-tough stance in a letter to congressional leaders late Monday, according to media reports. He said despite “intensive engagement” between the American and Indian governments, …
Trump to end India’s preferential trade status
NEW YORK, Mar 05 (APP):US President Donald Trump has said he plans to end a trade arrangement that allows India to send billions of dollars’ worth of its exports into the U.S. duty-free.
Trump, who has criticized India as a “very high-tariff nation,” announced his get-tough stance in a letter to congressional leaders late Monday, according to media reports.
He said despite “intensive engagement” between the American and Indian governments, the United States had not been granted equitable or reasonable access to India’s markets. Therefore, he would no longer recognize India as a beneficiary of the Generalized System of Preferences programme (GSP) — a programme that gives preferential, duty-free status to more than 100 countries in the developing world.“I will continue to assess whether the government of India is providing equitable and reasonable access to its markets,” Trump said.
The decision will affect $5.6 billion worth of exports, according to media reports, which said India is the largest beneficiary of GSP programme.
