Friday, 31 May 2019

United States to end preferential trade treatment for India on 5th June 2019


President Donald Trump announced on Friday that the United States would end its preferential trade treatment for India on 5th June 2019. Earlier, in March this year he had announced the intention to remove India from the Generalized System of Preferences (GSP) program.
Trump declared, “I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets.”
India is the biggest beneficiary of the GSP, which allows preferential duty-free imports of up to US$5.6 billion from the South Asian nation.
Indian officials have raised the prospect of higher import duties on more than 20 products of US origin, if President Trump drops India from the program.
The biggest point of satisfaction for India is that 24 members of the US Congress have sent a letter to the administration on 3rd May 3 urging it not to terminate India’s access to the GSP.




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