USTR Takes India off Developing Country List

The office of the United States Trade Representatives (USTR) has updated its list of developing and least-developed countries, removing India from the list of countries that are designated as developing.

USTR List of Developing and Least-Developed Countries

  • In the Uruguay Round Agreements Act (URAA), the US Congress had amended the Countervailing Duty (CVD) law in order to confirm US obligations under the World Trade Organisation (WTO) Agreement on Subsidies and Countervailing Measures (SCM).
  • Under this SCM agreement, countries that had not yet reached the status of a developed country were entitled to special treatment for purposes of countervailing measures.
  • This ....

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