US abolished trade exemptions for India.

US abolished trade exemptions for India.

US President Donald Trump expelled India from the number of countries receiving trade benefits under the United States Generalized System of Preferences (GSP). This is stated in a statement by the White House.

As stated in the document, India did not convince the United States that it would provide fair and acceptable access to domestic markets. “Accordingly, it is advisable to remove India from the list of developing countries-beneficiaries [of the system] from June 5, 2019,” the text says.

In mid-May, the United States also deprived Turkey of privileges. In this case, the decision was due to the fact that in 45 years of participation in the program, the country’s economy has grown and diversified.

The president of the United States announced his decision to abolish benefits for both countries to Congress in early March 2019.

US President Donald Trump expelled India from the number of countries receiving trade benefits under the United States Generalized System of Preferences (GSP). This is stated in a statement by the White House.

As stated in the document, India did not convince the United States that it would provide fair and acceptable access to domestic markets. “Accordingly, it is advisable to remove India from the list of developing countries-beneficiaries [of the system] from June 5, 2019,” the text says.

In mid-May, the United States also deprived Turkey of privileges. In this case, the decision was due to the fact that in 45 years of participation in the program, the country’s economy has grown and diversified.

The president of the United States announced his decision to abolish benefits for both countries to Congress in early March 2019.

The GSP program has been operating since 1974 and provides for the duty-free import of certain categories of goods from countries with developing economies. Country agreements should be renewed regularly.

The GSP program has been operating since 1974 and provides for the duty-free import of certain categories of goods from countries with developing economies. Country agreements should be renewed regularly.

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