Donald Trump terminates preferential trade status for India under GSP – Economic Times

Donald Trump terminates preferential trade status for India under GSP  Economic Times

WASHINGTON: President Donald Trump has terminated India’s designation as a beneficiary developing nation under the key GSP trade programme after determining that it has not assured the US that it will provide “equitable and reasonable access to its markets.” The Generalized System of Preference (GSP) is the largest and oldest US trade preference programme and is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries. “I have determined that India has not assured the US that it will provide equitable and reasonable…

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