Trump plans to end India's preferential trade treatment

05 March, 2019, 11:38 | Author: Erin Carter
  • Donald Trump Says He Plans To End India's Preferential Trade Treatment

Trump's decision comes at a hard time for India's prime minister, Narendra Modi.

Washington's Generalized System of Preferences (GSP) program allows $5.6 billion (€4.94 billion) worth of Indian exports to enter the United States duty free.

At President Donald Trump's direction, the US on Monday announced its intention to terminate preferential tariff systems for Turkey and India which are aimed at bolstering the trading prospects of developing nations.

The move against India and Turkey came as the U.S. and China seek to negotiate an exit from a costly trade war between the two countries that is part of the Trump administration's efforts to address what it views as inequitable commercial relationships with other states.

According to the U.S. Trade Representative's Office, the U.S. goods and services trade deficit with India was $27.3 billion in 2017.

It pointed out that Trump has threatened to impose 10 per cent punitive duties on U.S. travel goods imports from China and ending the GSP for India "means that not only will sourcing return from China, but American consumers will pay far higher prices for their travel goods".

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.

The statement also said that Turkey, after being designated a GSP beneficiary in 1975, has meanwhile demonstrated a "higher level of economic development", meaning that it can be "graduated" from the program.

Missing Girls in Humboldt County California
A fire captain and firefighter found the girls by following their bootprints, The Associated Press reported . She went looking for them with neighbors and friends before calling the sheriff's office three hours later.

Farm, marine and handicraft products were among India's exports most likely to be hit by the move, Ajay Sahai, the director general of the Federation of Indian Export Organisations, told Reuters. The reckoning is that some day in the near future India would have had to grow out of the GSP regime (as China has done), which was devised on the 1970s to help poor developing world countries, and that day might well be now.

Last week, India delayed until April 1 higher tariffs on some US imports announced earlier, in response to the Trump administration's refusal to exempt it from new steel and aluminum tariffs.

"We had worked out a meaningful package that covered the US' concerns but they made additional requests which were not acceptable at this time", he added.

"The effect will be minimal at the least to moderate at the most on India's export to the US", said Anup Wadhawan, commerce secretary in the Indian ministry of commerce. The rules caused severe disruptions for Amazon and Flipkart, which is majority-owned by the United States retail giant Walmart.

The e-commerce rules followed a drive by New Delhi to force global card payments companies such as Mastercard and Visa to move their data to India and higher tariffs on electronic products and smartphones.

"India has implemented a wide array of trade barriers that create serious negative effects on United States commerce. Despite intensive engagement, India has failed to take the necessary steps to meet the GSP criterion", the USTR said.

"Our proposal couldn't be workable for United States as India couldn't have compromised on affordability of medical devices", he said.



India 99 for 4, Kohli to Shastri: "This is good"
Australia captain Aaron Finch said his team should have put up a bigger score and stressed on taking regular wickets. I think our quicks looked most effective when they were banging it in, with that came few plays and misses.

The Sunday Edition: President Donald Trump Tweetstorm
Jim Jordan, the top Republican on the House Oversight Committee, Cohen's allegations are a distraction from a convicted liar with "zero credibility".

India, Pakistan exchange heavy border fire
Cross-border shelling in the past few days has killed seven people on the Pakistani side and four on the Indian side of Kashmir. The United States is "seeking information" on whether Pakistan used U.S. -built F-16 jets to down an Indian warplane, the U.S.

At least 14 dead as storms, possible tornadoes hit Deep South
And he says another radar-confirmed tornado was detected in Henry County, Alabama, moving into a neighboring county. Televised news footage showed smashed buildings with rooftops blown away, cars overturned and debris everywhere.

Pakistan hits back, shoots down Indian fighter jet: Indian media
One pilot was injured and receiving medical treatment and the other was in custody, he said at a news conference in Islamabad . The strikes were the deepest inside Pakistani territory since the neighboring countries last went to war over Kashmir in 1971.

Sarri confirms he will rotate his squad for Fulham clash
Willy Caballero started instead and will share goalkeeping duties with Kepa in the next two games. Asked about Ranieri's departure, Sarri said: "I'm really very sorry".

5 potential Raiders targets to watch at the NFL Combine
Josh Rosen is somebody's quarterback of the future, but it may not be the Arizona Cardinals. Murray will work out at Oklahoma's pro day on March 13.

Should New York City just give up on Amazon?
New York Democrat Governor Andrew Cuomo is aggressively working to bring Amazon back to New York after democratic socialist Rep. Cuomo blames a group of lawmakers for breaking up the deal and said, "The New York State Senate has done tremendous damage".

Overjoyed At His Return, Two Families In Rajasthan Name Their Newborns ‘Abhinandan’
On Saturday, the minister for railways, Sheikh Rashid Ahmed, told reporters that the train link would be restored on Monday. Pakistan's Prime Minister Imran Khan has talked of peace and described freeing Abhinandan as a gesture of goodwill.

Nolan Arenado, Rockies reach 8-yr dea
Asked if Colorado is becoming the type of winning franchise that Arenado covets, Monfort replied: "I do". Machado only recently found a home, agreeing to a 10-year, $300 million deal with the San Diego Padres .