US ends special trade treatment for India « Khabarhub
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US ends special trade treatment for India


02 June 2019  

Time taken to read : 2 Minute


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WASHINGTON: The Trump administration has announced to end special trade treatment for India. India will be removed from the preferential trade program, known as the Generalized System of Preferences, which gives developing countries easier access to the US market and lowers US duties on their exports, removing a status that exempts billions of dollars of the India’s products from US tariffs.

The White House also removed Turkey from the GSP program. “I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” President Donald Trump said in a proclamation issued by the White House.

As of June 5th, India will be terminated from its designation as a beneficiary developing country. The move adds one more front to Trump’s global trade wars.

The President has also promised new levies on China amid an impasse in negotiations over a renewed trade deal, and is considering a ban on foreign auto imports.

The tariffs will apply to “large residence” washing machines and solar cells and panels from India.
Trump has repeatedly slammed Indian duties on US goods, including on motorcycles.

The US announcement comes two days after India’s Narendra Modi was sworn in for a second straight term as prime minister. (Agencies)

Publish Date : 02 June 2019 18:44 PM

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