Trump moves to end special trade treatment for India

Donald Trump says he plans to end India's preferential trade treatment

In a separate letter, Trump told the Congress of his aim to end the GSP beneficiary designation of Turkey, NBC reported.

The government of India said that Donald Trump's move to end preferential treatment will have very little impact.

Business advocacy body US-India Business Council (USIBC) at the US Chamber of Commerce has said it will continue to try and convince the American government to revoke the decision, especially at a time when India is heading into elections.

India is likely to impose retaliatory tariffs on $10.6 billion worth of goods imported from the United States, after the Trump administration chose to scrap duty benefits on $5.6 billion worth of exports from India by May, following the collapse of trade negotiations. Congress establishes the conditions of eligibility for GSP, which include "providing the United States with equitable and reasonable market access, protecting workers' rights and combating child labour".

India, meanwhile, is being terminated from the programme because it has failed "to provide the United States with assurances that it will provide equitable and reasonable access to its markets in numerous sectors". He said India now is looking at a non-GSP trade pact with America. That's expected to affect over $5 billion worth of goods. Countries can also be graduated from the GSP program depending on factors related to economic development, it added.

The US intends to remove India and Turkey for its Generalised System of Preferences (GSP) programme as it argues they longer meet the criteria.

Читайте также: Town in California becomes an island amid heavy flooding

U.S. Trade Representative Robert Lighthizer announced Monday that India and Turkey will within 60 days no longer qualify for a zero-tariffs status that is given to some poor countries to help them grow.

India was the largest beneficiary of the system, with it covering roughly $5.69 billion in imports, according to a report issued by the Congressional Research Service in January.

Trade ties with the United States suffered after India adopted new rules on e-commerce curbing how internet retail giants Amazon.com Inc and Walmart Inc-backed Flipkart do business.

Reuters last month reported the planned USA action, which comes as the United States and China appear close to a deal that would roll back us tariffs on at least $200 billion worth of Chinese goods. But the government was still hopeful that the Trump administration would not make any move at the moment. "This could be used by the foreign policy elite in India to say, 'Don't get too close to the U.S"'.

Indian trade negotiators would look at the new NAFTA, TPP and other trade deals for specific provisions for access to markets for dairy and medical devices.

Ajai Sahai, director general of the Federation of Indian Export Organisations, said farm marine and handicraft exports are the products most likely to be hit by Mr Trump's threat. But then the U.S. authorities added other issues such as market access, relaxation of various procedural requirements, testing requirements etc.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2019 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Related news:

Hot News

isis-killer-beheading-video-story-top House panel launches sweeping probe of Trump
Мар 05, 2019 - 02:23
The Democrats believe Trump should be impeached for obstruction of justice and what they call collusion with Russian Federation . Jerrold Nadler , D-N.Y., while defending Trump from accusations that he's committed impeachable offenses .

isis-killer-beheading-video-story-top Donald Trump launches furious attack on Robert Mueller
Мар 05, 2019 - 01:17
Trump says that the CPAC people are probably thinking they're getting a lot more than they bargained for today. He added, "We are certainly looking deep into this set of issues around Moscow at Trump Tower".

isis-killer-beheading-video-story-top Making a splash at combine reveals nothing about NFL success
Мар 05, 2019 - 01:06
Christmas posted an official 40 time of 5.08 seconds, while Murray ran an unofficial 4.63. Tillery is somewhat of a tweener in a 3-4 defense, fitting best as a defensive end.

isis-killer-beheading-video-story-top Storm brings heavy snow, cold to Colorado
Мар 05, 2019 - 00:59
Some areas could see up to 8 inches of snow by the Monday morning commute with school closings and delays expected . The National Weather Service issued a winter storm warning for Fairfield, Litchfield and New Haven counties.

isis-killer-beheading-video-story-top Intel announces USB 4 standard
Мар 05, 2019 - 00:48
Inside of the announcement came news that USB 4 would be compatible with Thunderbolt 3 (as well as USB 3 .2 and USB 2.0). With that said , nobody has seen a USB4 port yet so we don't know if it will differ from the current USB-C standard.

isis-killer-beheading-video-story-top Kensington Palace releases new social media guidelines
Мар 05, 2019 - 00:35
In a groundbreaking move, the palace has released official guidelines for how to interact with the royal family's official social media accounts.

isis-killer-beheading-video-story-top Roy Williams confirms collapse was due to vertigo
Мар 04, 2019 - 01:36
Coby White drove the lane but his shot was wild off the glass, and Trapp grabbed the rebound and was immediately fouled. North Carolina's Williams , 68, has had vertigo before in games, leaving a win over Boston College three years ago.

isis-killer-beheading-video-story-top Trump vows executive order requiring 'free speech' at colleges
Мар 04, 2019 - 01:25
In response to the incident, the university expressed "unwavering" commitment to "freedom of expression and perspective". The executive order, Trump said , would "require colleges to support free speech if they want federal research" money.

isis-killer-beheading-video-story-top Rodgers does not rule out Celtic return
Мар 04, 2019 - 01:05
The Hornets got off to a bright start as the took the lead after just five minutes when Gerard Deulofeu's free-kick was flicked home by Troy Deeney.

isis-killer-beheading-video-story-top Huawei P30 and P30 Pro Renders Leaked, Revealing Astonishing Gradient Color Schemes
Мар 04, 2019 - 00:43
Firstly there's a much smaller teardrop notch at the top of the phone which is much less intrusive than on the current P20 Pro . The only other thing that is revealed in the image are some new colours with a striking blue and more subtle grey both on show.

isis-killer-beheading-video-story-top Lennon enjoys winning return as Celtic knock Hibs out of Scottish Cup
Мар 03, 2019 - 02:40
There remained time for Taylor to send off Lucas Torreira in the final seconds for a reckless challenge on Danny Rose . As we stand Leeds, West Brom, Middleborough and Bristol City would occupy the playoff for the final promotion spot.

isis-killer-beheading-video-story-top Elon Musk's SpaceX successfully launches spacecraft designed for astronauts — Crew Dragon
Мар 03, 2019 - 02:29
We have to come back, but so far it's worked. we've passed the riskiest items". "We've launched a lot of Falcon 9 rockets now". But a dummy in a white Space X spacesuits is inside, used to record data as a future reference for a real astronaut aboard.

isis-killer-beheading-video-story-top Wing Commander Abhinandan undergoes 'cooling down' process
Мар 03, 2019 - 02:13
Pressed on who in Pakistan contacted the terrorist group, the minister said: "The people, the people who are known to them". India said only one of its planes was lost, the MiG-21 flown by Varthaman, and Pakistan has not clarified the discrepancy.

isis-killer-beheading-video-story-top LaLiga Starting XI: Real Madrid v FC Barcelona 02 March 2019
Мар 03, 2019 - 01:48
Los Blancos only have Nacho's absence to deal with, while the Catalan giants have no new injury concerns to contend with. Yet they are nine points behind Barcelona , who sit comfortably at the top of La Liga with 57 points after 25 matches.

isis-killer-beheading-video-story-top Luka Chuppi full movie leaked online by Tamilrockers
Мар 03, 2019 - 01:26
Luka Chuppi is a comedy film about live-in relationships starring Kartik Aaryan and Kriti Sanon in lead roles. In another tweet, Adarsh compared the opening business of Kartik's earlier films to that of " Luka Chuppi ".