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[size=36]Trump ends India's commercial advantages on June 5[/size]
Economy | 12:09 - 01/06/2019
Follow - up - News balance
US President Donald Trump said on Friday the United States would end the granting of India preferential trade treatment on the fifth of June.
Trump announced his intention to exclude India from the GSP program in early March.
"I have seen that India has not assured the United States that it will provide fair and reasonable access to its markets," Trump said in a statement on Friday.
India is the world's largest recipient of the GSP program, which allows preferential duty-free imports of $ 5.6 billion worth of goods from India.
Indian officials have raised the possibility of increasing import duties on more than 20 US goods if Trump is excluded from the program.
A 24-member US Congress sent a letter to the administration on May 3 urging India not to exclude the GSP.
US President Donald Trump said on Friday the United States would end the granting of India preferential trade treatment on the fifth of June.
Trump announced his intention to exclude India from the GSP program in early March.
"I have seen that India has not assured the United States that it will provide fair and reasonable access to its markets," Trump said in a statement on Friday.
India is the world's largest recipient of the GSP program, which allows preferential duty-free imports of $ 5.6 billion worth of goods from India.
Indian officials have raised the possibility of increasing import duties on more than 20 US goods if Trump is excluded from the program.
A 24-member US Congress sent a letter to the administration on May 3 urging India not to exclude the GSP.
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