Trump Administration Ends India’s Duty-Free Access To U.S. Markets
The White House announced last Friday that the United States will end India’s preferential treatment under the Generalized System of Preferences, a program designed to promote economic development around the world.
As Bloomberg explains, the decision, which takes effect June 5, 2019, will result in the elimination of duty-free status for almost 2,000 products totaling $5.7 billion that are imported into the United States from India. Randeep Surjewala, chief spokesman of the National Congress Party, called the decision a “double whammy” after India had “succumbed to U.S. pressure” by not buying crude oil from Iran on favorable terms. The Indian government has not yet determined how it will respond.
Click here to read the White House’s announcement.