India gets yet another blow from Donald Trump
WASHINGTON - India gets yet another blow from the Donald Trump administration.
The US on Thursday revoked duty-free concessions on import of at least 50 Indian products, mostly from handloom and agriculture sectors, reflecting the Trump administration's tough stand on trade-related issues with New Delhi, PTI has reported.
The federal register issued a notification, listing out 90 products which were so far subject to duty-free provisions under the Generalized System of Preferences (GSP).
President Donald Trump issued a presidential proclamation on Tuesday, leading to the removal of these products from the privilege beginning November 1.
As of November 1, these products "will no longer qualify for duty-free preferences under the GSP programme but may continue to be imported subject to regular Most Favored Nation duty-rates," an official of US Trade Representative told PTI.
A review of the products indicates that the presidential proclamation is not country specific, but product specific.
With India being the largest beneficiary of the GSP, it has been hit the most by the latest decision of the Trump administration.