Generalized System of Preference Current Affairs, GK & News

Generalized System of Preference  Current Affairs, GK & News

US withdraws India’s GSP benefits

The United States of America (USA) President Donald Trump terminated India’s designation as a beneficiary developing nation under the GSP (Generalized System of Preference) trade program w.e.f. 5 June 2019. Key Highlights The US has withdrawn preferential tariffs to Indian exports. The step was taken on determining that India has not committed to provide “equitable ..

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US to end preferential trade terms Under GSP for India

The US President Trump has terminated India’s designation as a beneficiary developing nation under the Generalized System of Preference (GSP) trade programme. Why did the US Withdrew? The US has stated that: India did not assure the US that it will provide equitable and reasonable access to its markets. India has implemented a wide array ..

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US Plans To End India’s Preferential Trade Status

President Trump notified the Congress his intent to terminate trade benefits for both India and Turkey under the Generalized System of Preference (GSP) eligibility criteria. India and GSP About 2,000 products, including auto components and textiles, can enter the US duty-free if the beneficiary developing country meet the eligibility criteria. India was the largest beneficiary ..

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