WASHINGTON/NEW DELHI: US President Donald Trump is all set to end preferential trade treatment for India that allows duty-free entry for $ 5.6 billion worth of the country’s exports to the United States.
According to US tofficials, it would take at least 60 days for the country to scrap the concessions following notifications to Congress and the Indian government.
Trump Administration had been urging India to reduce the tariffs to cut the country’s trade deficits.
“I am taking this decision after India did not assure the United States that it would provide equitable and reasonable access to the markets of India,” Trump said in a letter to congressional leaders.
If US removed India from its participation in the GSP program, it would be the strongest action for the South Asian nation since Trump took office in 2017.
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