USA Plans to Withdraw Trade Concessions for India under GSP Program
- On March 5th, 2019, United States announced to end the preferential trade terms for India under the U.S.’s Generalized System of Preferences (GSP) program.
- Under this program, US provides duty-free access to 4800 different products from goods from 129 designated countries in order to foster trade and economic development.
- A mandatory 60 days must now pass after notification of the notice to the beneficiary countries and to Congress, during which time there is, at least technically, the possibility of negotiation. After the 60-day period, a beneficiary country can be taken off the GSP list by a presidential proclamation.
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