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Donald Trump to end preferential trade treatment of India


SUKIRTI MISHRA 05/03/2019 12:08 PM
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Washinton. US President Donald Trump notified about his intention to end the preferential trade treatment of India. It permits $5.6 billion worth of Indian exports to enter the United States duty free.

As per US Trade Representative's Office, the US goods and services trade deficit in India was noted to be $27.3 billion in 2017.

India is the world's largest beneficiary of the US Generalised System of Preferences programme (GPS).

Top trade official Anup Wadhawan stated that India has no intention to impose retaliatory tariffs on US good. He further added that withdrawal of  the Generalised System of Preferences(GSP) for Indian products would not impact India much.

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In order to cut US trade deficits, Donald Trump has continuously called out India for its high tariffs.

Trump in a letter to Congressional leaders said: "I am taking this step because after intensive engagement, between the United States and the Government of India, I have determined that India has not assured the United States that it will provide equitable and reasonable access to the markets of India".

US Trade Representative's Office notified that removal of India from GSP programme would not come in to effect for at least 60 days after the Congress and the Indian government has been notified and will be enacted by a Presidential proclamation.
 

 


 

 

 

 

 

 

 

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