Trump to end preferential trade treatment for India on June 5

2 June 2019
2019-06-02 13:59

U.S. President Donald Trump announced Friday that he will end preferential trade treatment for India on June 5, which exempts billions of dollars of its products from U.S. tariffs due to its developing country status.  In early March, the U.S. Trade Representative's (USTR) office announced that the United States intends to move India and Turkey out of a program under which a group of developing countries receive preferential trade treatment. 

The program, called the Generalized System of Preferences (GSP), was created to support developing countries alleviating poverty through trade. India was designated as a beneficiary developing country under the program in a presidential executive order in November 1975.  Washington had a 21-billion-dollar trade deficit with New Delhi in 2018, according to the U.S. Census Bureau.

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