United States To Remove India and Turkey From Their Trade Beneficiary

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The United States has evicted India from a crucial trade pact and it is finally a done deal as said by an official on last Thursday. The decision is followed closely as Washington’s close relations with Indian Prime Minister Narendra Modi is well known to the world. So to remove India from their trade pact is a little puzzling. Administration of President Donald Trump said in March that they are removing India and Turkey from their Generalized System of Preferences (GSP).

The GSP of the US gives duty free specific products from certain developed countries. India responded to the situation by saying that they could not counter the proposal as the election season was on and there couldn’t be any policy or decision making that can happen during this phase. India has been the topmost beneficiary of this scheme under which it has exported more than $5.6 billion of good to the United States.

When Narendra Modi was elected as the Prime Minister of India for the second time, a senior US official from Donald Trump’s administration said that they are hoping for warm relations with the PM but the decision to remove India will move forward. He said, I think that suspension was a done deal. Now the task is how we look ahead, how do we work under the second Modi administration to identify a path forward. He further added that there is a huge potential for both countries to grow their trade relations and to stimulate the jobs that the India PM has promised to the youth of India.

The United States clarified that they are removing India from their GSP due to certain trade barriers and have also revoked the privilege with Turkey citing the reason that it is no longer a developing country. President Trump has a tough stand on trade for even the US allies and has been specifically enraged at Indian prices of high-end manufactured products.

However, the officials said that the United States hoped to strengthen relations with PM Modi.

Read More Breaking News at Storify News

Mike Bravo
Mike Bravohttps://www.storifynews.com
Mike Bravo is the President of Storify News. He is the owner of the Storify News Times since 2018. Storify News was founded by Mike Brovo.

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