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'End India's Preferential Trade Treatment, Indian Exports To Enter The United States Duty-Free', Says Donald Trump

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| March 5 , 2019 , 13:02 IST

President Donald Trump stated to end India’s preferential trade treatment on Monday. India’s 5.6 billion export enters in United States market duty-free.

“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.

“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 United States that it will provide equitable and reasonable access to the markets of India,” Trump further said.

Trump, who has vowed to reduce US trade deficits, has repeatedly called out India for its high tariffs.

The US goods and services trade deficit with India was $27.3 billion in 2017, according to the US Trade Representative’s Office.

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.

“I will continue to assess whether the Government of India is providing equitable and reasonable access to its markets, in accordance with the GSP eligibility criteria,” he said.

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The US Trade Representative's Office said removing India from the Generalized System of Preferences (GSP) program would not take effect for at least 60 days after notifications to Congress and the Indian government, and it will be enacted by a presidential proclamation.

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kushal kumar

News report has appeared on 4 March , 2019 to say that US President Donald Trump is planning to scrap preferential trade status for India and Turkey. Obviously , the news has the potential to cause likely stress of financial and economic nature to the concerned countries. In this context , it may be apt to refer to this Vedic astrology writer’s predictive alert for more care and appropriate strategy in article - “ The Year 2019 Astrologically for India” - published last year on 7 October , 2018 at theindiapost.com. Since worrisome news has appeared on 4 March 2019 , the predictive alert for February - March 2019 in relation to India is being reproduced here as follows :- “ February - March 2019. These nearly two months appear to be calling for more care and appropriate strategy in relation to more than one front…………………….Some sort of crisis or worrisome concerns in financial and economic sector look to be there”. Such predictive alerts were also made by this writer in November and December 2019 through article “ World Predictions 2019” highlighting similar concerns in vulnerable countries which included India and Turkey also. It was said that economic and financial stress or crisis to the existing Govts or comparable organizations could cause major worry in said countries during first three months of 2019 , more so February -March. Furthermore , in the footnote , the period of worry was brought closer and made precise by saying that such dates as 14 February or around , 22 February or around and 3 March or around could be signaling worry for more care and appropriate strategy.