Trump to end trade privileges for India on June 5
US president had announced his intention to remove India from GSP programme in early March
A man holds the flags of India and the US while people take part in the 35th India Day Parade in New York August 16, 2015. PHOTO: REUTERS
WASHINGTON:
President Donald Trump said on Friday that the United States would end its preferential trade treatment for India on June 5.
Trump had announced his intention to remove India from the Generalised System of Preferences (GSP) programme in early March.
“I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump said in a statement on Friday.
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India is the biggest beneficiary of the GSP, which allows preferential duty-free imports of up to $5.6 billion from the South Asian nation.
Indian officials have raised the prospect of higher import duties on more than 20 US goods if Trump drops India from the programme.
Twenty-four members of the US Congress sent the administration a letter on May 3 urging it not to terminate India’s access to the GSP.
Narendra Modi was sworn in for a second term as India's prime minister recently, a week after his ruling Bharatiya Janata Party (BJP) easily cruised back to power.
President Donald Trump said on Friday that the United States would end its preferential trade treatment for India on June 5.
Trump had announced his intention to remove India from the Generalised System of Preferences (GSP) programme in early March.
“I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” Trump said in a statement on Friday.
India PM Modi faces 'jobs crisis' as unemployment hits 6.1%
India is the biggest beneficiary of the GSP, which allows preferential duty-free imports of up to $5.6 billion from the South Asian nation.
Indian officials have raised the prospect of higher import duties on more than 20 US goods if Trump drops India from the programme.
Twenty-four members of the US Congress sent the administration a letter on May 3 urging it not to terminate India’s access to the GSP.
Narendra Modi was sworn in for a second term as India's prime minister recently, a week after his ruling Bharatiya Janata Party (BJP) easily cruised back to power.