In a major set back to India, Trump administration has decided to remove India from the US Trade Privileges. Citing "failure of assurance", US President Donald Trump has ended the Preferential Trade Treatment for India under GSP from 5th June, 2019. The announcement on removal of special treatment status to India came from Washington on Friday.
What is GSP?
The privileges come under the Generalized System of Preferences (GSP), which had been allowing preferential duty-free imports of up to USD 5.6 billion a year into the US from the South Asian countries. India is the biggest beneficiary of the GSP program.
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In a major set back to India, Trump administration has decided to remove India from the US Trade Privileges. Citing "failure of assurance", US President Donald Trump has ended the Preferential Trade Treatment for India under GSP from 5th June, 2019. The announcement on removal of special treatment status to India came from Washington on Friday. What is GSP? The privileges come under the Generalized System of Preferences (GSP), which had been allowing preferential duty-free imports of up to USD 5.6 billion a year into the US from the South Asian countries. India is the biggest beneficiary of the GSP program.