Donald Trump Decides To Scrap Preferential Trade Treatment For IndiaMarch 05, 2019 16:05
Donald Trump Decides To Scrap Preferential Trade Treatment For India:- United States President Donald Trump decided to scrap the process of Preferential Trade Treatment for the products that are exported to USA. They now took a decision to withdraw duty benefits offered for Indian products under Generalized System of Preferences (GSP) programme. India every year is exporting 5.6 billion USD worth products to USA without any duty-free charges. India mainly exports raw materials and intermediate goods such as organic chemicals to the US.
This came as a surprising move after India imposed new rules for e-commerce giants Amazon and Wallmart owned Flipkart. GSP withdrawal will not have a significant impact on India's exports to the US told Commerce Secretary Anup Wadhawan. Over 1900 Indian products are exported to USA under GSP which is introduced in 1976. US Government said that it intends to end up the Preferential Trade status that is granted for India and Turkey.