News18 Explains: What is GSP And How Will Its Withdrawal Impact India-US Trade?

US President Donald Trump has said that he intends to end India's preferential trade treatment under generalised system of preferences (GSP) that allows $5.6 billion worth of Indian exports to enter the United States duty-free. Trump, who has vowed to reduce US trade deficits, has repeatedly called out India for its high tariffs. The GSP removal will leave a reasonable impact on India as the country enjoyed preferential tariff on exports worth of nearly $5.6 billion under the GSP route out of the total exports of $48 billion in 2017-18.

from Top World News- News18.com https://ift.tt/2IVnu9k