Tariffs and Counter Tariffs between India and the US
- The US on 31 May announced its decision to end preferential tariffs (GSP benefits) amounting to $5.6 billion of Indian exports from June 5. US cited India’s reluctance to allow US equitable and reasonable access to Indian markets as the reason behind this move.
Indian response to US’ move
- India believes that this move by the US will not have a significant impact on Indian exports to America as the benefits being enjoyed by India under GSP were only about USD 190 million annually.
- However, in retaliation to US’ decision to remove India from ....
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