Donald Trump to end trade preference deal, Washington, US President Donald Trump said that after the intent to end India’s preferential trade treaty, India has not planned to retaliate on American goods. Anup Wadhawan said that return of the generalized system to Indian products will have limited impact. He said that the two countries were working on a business package to address each other’s concerns. Under the GSP program, India exports duty-free of 5.6 billion dollars to the United States.
Donald Trump to end trade preference deal, India says won’t hit exports
Arguing that New Delhi failed to give the assurance to America that it would provide fair and fair access to its markets in many areas, the US President Donald Trump on Monday called the US Congress as a beneficial developing country of India and Turkey. Explain your intent to end the designation. Under the Generalized System of Preferences (GSP) program.
In a letter to the US House of Representatives Nancy Pelosi, Trump said that he had determined that New Delhi had “not assured” the United States that it would “provide equitable and reasonable access” to the India Market.
According to the GSP eligibility criteria, “I will continue to assess whether the Indian government is giving equitable and fair access to its markets,” Trump said in his letter, whose copy of which was issued to the press.
Donald Trump to end trade preference deal, In a separate letter, Trump also conveyed to Congress the intention of ending the GSP beneficiary designation of Turkey. It was mainly because in Turkey’s economy there was a lot improvement in the last four and a half decades, he said.
“In the last half and a half decades since Turkey’s designation as the GSP beneficiary developing country, the economy of Turkey has grown and diversified,” he said.
“Growth in gross national income per capita, the decline in poverty rates and export diversity by business partners and all the evidence of increasing levels of economic growth by Turkey, besides Turkey, due to its development, GSP programs of other developed countries “Through economic development or mutual arrangement,” he argued.
Trump’s letter to Pelosi can be seen as a major setback in Indo-US bilateral relations, especially in the field of trade and economy.
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