WASHINGTON – US President Donald Trump said on Monday that he plans to end India’s preferential trade treatment under a program that allows $5.6 billion worth of Indian exports to enter the United States duty-free, the Radio Pakistan reported.
“I am providing notice of my intent to terminate the designation of India as a beneficiary developing country under the Generalized System of Preferences (GSP) program,” Trump said in a letter to congressional leaders.
Trump said that “I am taking this step because, after the intensive engagement between the United States and the Government of India, I have determined that India has not assured the US that it will provide equitable and reasonable access to the markets of India.”
India is the world’s largest beneficiary of the GSP program and ending its participation would be the strongest punitive action against India since Trump took office in 2017.
according to the US Trade Representative’s Office, The US goods and services trade deficit with India was $27.3 billion in 2017.
