US terminates India`s GSP designation |
In a major move the United states of america has terminated GSp designation of India. This was announced by the U.S. Trade Representative Robert Lighthizer announced on tuesday under the direction of President Donald Trump. He said, the United States intends to terminate India`s and Turkey`s designations as beneficiary developing countries under the Generalized System of Preferences program because they no longer comply with the statutory eligibility criteria. Under the program, certain products can enter the United States duty-free if beneficiary developing countries meet the eligibility criteria established by Congress. The United States launched an eligibility review of India`s compliance with the GSP market access criterion in April 2018. India`s termination from GSP follows its failure to provide the United States with assurances that it will provide equitable and reasonable access to its markets in numerous sectors. Turkey`s termination from GSP follows a finding that it is sufficiently economically developed and should no longer benefit from preferential market access to the United States market. By statute, these changes may not take effect until at least 60 days after the notifications to Congress and the governments of India and Turkey, and will be enacted by a Presidential Proclamation.
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