Home Blockchain News Trump Promises to Kill India’s $5.6 Billion in Duty-Free Exports to US: Another Trade War?

Trump Promises to Kill India’s $5.6 Billion in Duty-Free Exports to US: Another Trade War?

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President Donald Trump has indicated that the preferential trade status that India enjoys with the United States under the Generalized System of Preferences (GSP) tariffs system and which allows it to export some products to the U.S. duty-free will be ended, according to Reuters. In a letter to Congress, Trump indicated that the decision to remove India from the Generalized System of Preferences tariff system was prompted by trade difference. According to Trump, India had failed to assure the U.S. of getting ‘equitable and reasonable access’ to its markets. Under the GSP tariff system, some countries are exempt from the

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