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India to lose the Preferential Trade Status: Trump

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Trump has said that the United States may end India’s preferential trade treatment under a specific program. Turkey is in the radars for the same. Robert Lighthizer.

The US Trade Representative claimed that the United States is planning to remove India and Turkey as Beneficiary Developing Countries under the Generalized System of Preferences (GSP) programme.

President Donald Trump said on Monday that “I am providing notice of my intent to terminate the designation of India as a beneficiary developing country under the GSP program.”

The reason for such removal from Beneficiary Developing Countries under the GSP programme is the fact that Trump did not feel that India has assured the United States with equitable and reasonable access to the markets of India. Such removal of India will be the biggest move against India taken by Donald Trump since he took office in 2017.

Trump has further said, I will continue to assess whether the Government of India is providing equitable and reasonable access to its markets, in accordance with the GSP eligibility criteria.”

GSP, the trade program of the US works to promote economic development in beneficiary countries by removing the duties on the exported products.

 

 

Avid writer with skill further backed by research and reflection papers done during Law school and the interest further developed while working with the Times News Network for a brief period. National level Mountain bike cyclist from Uttarakhand. Freelance, self -taught Graphic Designing capability is another skill in my arsenal of experiences and capabilities.

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