For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Trump Intends To End India's Preferential Trade Agreement With The US

|

The President of the United States, Donald Trump, said that it is his intention to end India's preferential trade treatment under a program that allows Indian exports worth $5.6 billion to enter the US duty-free.

Trump Intends To End India's Preferential Trade Agreement With The US
 

According to a Reuters report, Trump in a letter to the American congressional leaders said, "I am providing notice of my intent to terminate the designation of India as a beneficiary developing country under the Generalized System of Preferences (GSP) program."

He further 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."

With an intention to reduce US trade deficit, he has been repeatedly calling out India for its high tariffs. Its trade deficit will India was at $27.3 billion in 2017. Being the largest beneficiary of the GSP program, if it comes into force, it will be the harshest blow on India from the Trump administration since 2017.

Read more about: donald trump usa
Story first published: Tuesday, March 5, 2019, 10:50 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more