*NEW DELHI – India likely to get yet another blow from United Statesadministration over trade deal as US is unlikely to grant India the specialstatus desired from the American administration.*
The United States does not believe that India is eligible for the grant ofa special trade privilege but is renegotiating its terms after revoking thestatus earlier this year, US Secretary of Commerce Wilbur Ross told Reuterson Thursday.
Citing lack of reciprocal market access, the United States stripped Indiafrom the Generalized System of Preferences (GSP) programme that allowedduty-free entry for up to $5.6 billion worth of its annual exports toAmerica. New Delhi responded with higher retaliatory tariffs on 28US products, including almonds, apples and walnuts.
“If we can solve GSP, that’s a very good step towards free trade,” Mr Rosssaid.
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“We are hopeful that those gaps can be closed and we can get a morefavourable trade arrangement with India. GSP (reinstatement) could becalled a limited trade deal.”
