44 lawmakers urge U.S. govt to reinstate GSP for India
5 years, 3 months ago

44 lawmakers urge U.S. govt to reinstate GSP for India

The Hindu  

A bipartisan group of 44 influential lawmakers has urged the Trump administration to reinstate India’s designation as a beneficiary developing nation under the key GSP trade programme as part of a potential trade deal between the two countries. “Companies are telling Congress about the American costs — both in dollars and jobs — of lost GSP eligibility for India,” said Dan Anthony, executive director of the Coalition for GSP on Tuesday. “The letter shows Congress’ strong, bipartisan support for swift action to reinstate GSP for India and to help constituents that depend on two-way trade,” he said. Just as U.S. industries are harmed by lack of fair and reciprocal access to India’s market, American companies and workers also are harmed by new tariffs due to GSP termination, the lawmakers wrote.

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History of this topic

Boosting trade, the key to stronger Indo-US ties
2 years ago

Boosting trade, the key to stronger Indo-US ties

Hindustan Times  

In a speech delivered at Microsoft in New Delhi in November, United States treasury secretary Janet Yellen called for a deepening of US-India ties and emphasised the importance of “friendshoring” between the world’s two largest democracies. Bilateral trade hit a record $157 billion in two-way goods and services trade in 2021, and the US is now the top destination for …

US to consider restoring GSP concessions to India
3 years, 1 month ago

US to consider restoring GSP concessions to India

Hindustan Times  

The US-India Trade Policy Forum on Tuesday resumed dialogue after four years where the US said it will consider India’s request for restoring the Generalised System of Preferences that the Trump administration had withdrawn in 2019, affecting Indian exports worth over $6.3 billion, officials said. At the 12th ministerial-level meeting of TPF, co-chaired by commerce minister Piyush Goyal and US …

India urges US to restore duty-free export benefits
3 years, 1 month ago

India urges US to restore duty-free export benefits

Live Mint  

India on Tuesday publicly urged the US to restore duty-free export benefits under the Generalised System of Preferences even as both countries agreed to allow market access for mangoes and pomegranates arils from India and cherries and alfalfa hay from the US. In a joint statement after the Trade Policy Forum meeting co-chaired by India’s trade minister Piyush Goyal and …

U.S. mulling over restoring GSP status for India: Lighthizer
4 years, 6 months ago

U.S. mulling over restoring GSP status for India: Lighthizer

The Hindu  

The United States is mulling over restoring India’s beneficiary status under its trade preference programme Generalised System of Preferences on receiving a counterbalancing proposal from New Delhi, a top Trump administration official told lawmakers on Thursday. “We’re in negotiations with India, we took away their GSP, and we’re in the process of restoring it if we can get an adequate …

Trade talks stall as US raises bar on market access in India
5 years, 3 months ago

Trade talks stall as US raises bar on market access in India

Live Mint  

Geneva: Trade talks between India and the US on Tuesday broke down for the time being after Washington made asymmetrical demands for market access in India, while refusing to restore benefits accorded to Indian exporters under the Generalized System of Preferences, analysts said. The US raised the bar very high for market access in India, covering a whole lot of …

44 influential lawmakers urge Trump administration to reinstate GSP for India
5 years, 3 months ago

44 influential lawmakers urge Trump administration to reinstate GSP for India

India TV News  

A group of 44 influential lawmakers has urged the administration under US President Donald Trump to reinstate India's designation as a beneficiary developing nation under the key GSP trade programme as part of a potential trade deal between the two countries. "Companies are telling Congress about the American costs - both in dollars and jobs - of lost GSP eligibility …

US lawmakers urge Donald Trump administration to restore India's trade privileges
5 years, 3 months ago

US lawmakers urge Donald Trump administration to restore India's trade privileges

India Today  

Forty-four members of the US Congress have urged President Donald Trump's trade representative to restore trade concessions to India, saying the withdrawal of the privilege had led to retaliatory tariffs from New Delhi which were hurting U.S. industry. In the letter addressed to United State Trade Representative Robert Lighthizer and dated Sept. 17, the members of Congress said: "Just as …

44 lawmakers urge Donald Trump admin to reinstate GSP for India
5 years, 3 months ago

44 lawmakers urge Donald Trump admin to reinstate GSP for India

India Today  

A bipartisan group of 44 influential lawmakers has urged the Trump administration to reinstate India's designation as a beneficiary developing nation under the key GSP trade programme as part of a potential trade deal between the two countries. "Companies are telling Congress about the American costs - both in dollars and jobs - of lost GSP eligibility for India," said …

Gloves off on trade: on India-U.S. tariff row
5 years, 6 months ago

Gloves off on trade: on India-U.S. tariff row

The Hindu  

The government’s decision to finally go ahead and impose retaliatory tariffs on 29 U.S. goods with effect from June 16, almost a year after it first announced them, unambiguously signals that on trade India has decided to join issue with President Donald Trump’s protectionist administration. Mr. Trump chose to go ahead and proclaim on May 31 that he was terminating …

US GSP withdrawal: New markets, subsidy to help India contain trade deficit
5 years, 7 months ago

US GSP withdrawal: New markets, subsidy to help India contain trade deficit

India TV News  

New export markets, financial support and lower crude oil prices are likely to offset the impact on trade deficit caused by US ending preferential treatment to various goods supplied from India. "The withdrawal of GSP benefits to exports will have a one-time impact which will be reflected in the overall trade deficit," Sunil Kumar Sinha, Director, Public Finance and Principal …

India plays down Donald Trump's decision to end preferential trade access, says will continue to seek ‘strong’ economic ties with US
5 years, 7 months ago

India plays down Donald Trump's decision to end preferential trade access, says will continue to seek ‘strong’ economic ties with US

Firstpost  

The Centre said on Saturday it will continue to seek to build strong economic ties with the United States despite a decision by US president Donald Trump to end preferential trade treatment for India from 5 June. New Delhi: The Centre said on Saturday it will continue to seek to build strong economic ties with the United States despite a …

'Unfortunate': India on US decision to end its preferential trade status
5 years, 7 months ago

'Unfortunate': India on US decision to end its preferential trade status

India TV News  

The Ministry of Commerce on Saturday said the decision by United States President Donald Trump to end India's designation as a beneficiary developing nation under a key preferential trade programme was unfortunate. Trump ended India's designation after determining it had not assured the US that it would provide "equitable and reasonable access to its markets." Accordingly, it is appropriate to …

Donald Trump terminates India’s preferential trade status under GSP programme
5 years, 7 months ago

Donald Trump terminates India’s preferential trade status under GSP programme

Live Mint  

Washington: President Donald Trump has terminated India's designation as a beneficiary developing nation under the key GSP trade programme after determining that it has not assured the US that it will provide "equitable and reasonable access" to its markets. Accordingly, it is appropriate to terminate India's designation as a beneficiary developing country effective June 5, 2019," Donald Trump said in …

U.S. President Donald Trump ends concessions for Indian exports under GSP
5 years, 7 months ago

U.S. President Donald Trump ends concessions for Indian exports under GSP

The Hindu  

A day after a group of journalists was told that India’s access to preferential trade terms under the U.S.’s Generalized System of Preferences was on its way out, U.S. President Donald Trump issued a proclamation ending the trade benefits effective June 5. Mr. Trump had notified the U.S. Congress on March 4 of his intention to end benefits for India …

US terminates preferential trade programme with India: Donald Trump
5 years, 7 months ago

US terminates preferential trade programme with India: Donald Trump

India Today  

President Donald Trump on Saturday terminated the United States preferential trade programme with India. With this, the United States has ended India's designation as the beneficiary developing country under the key GSP trade programme. Donald Trump in March had announced his intention to remove India from the decades-old Generalized System of Preferences program over what the United States said was …

India to lose preferential trade terms with U.S. under Generalized System of Preferences programme
5 years, 7 months ago

India to lose preferential trade terms with U.S. under Generalized System of Preferences programme

The Hindu  

India will lose access to preferential trade terms with the U.S. under the latter’s Generalized System of Preferences programme, a Senior State Department official told reporters in Washington DC on Thursday. The official, who did not want to be named, said the restoration of benefits remained a possibility if underlying trade issues were resolved, but the withdrawal of India’s GSP …

US suspension of trade programme with India a done deal: US official
5 years, 7 months ago

US suspension of trade programme with India a done deal: US official

India Today  

The suspension of a U.S. trade preference programme with India is a "done deal," a senior State Department official said on Thursday as Prime Minister Narendra Modi began his second term. President Donald Trump announced in March he would end India's access to the decades-old Generalized System of Preferences trade programme over what the U.S. said was lack of access …

Government again extends retaliatory import tariff deadline on 29 US products till 16 May
5 years, 8 months ago

Government again extends retaliatory import tariff deadline on 29 US products till 16 May

Firstpost  

New Delhi: The government has again extended its deadline to impose retaliatory import duties on 29 US products, including almond, walnut and pulses, till 16 May. These deadlines were extended several times since June 2018, when India decided to impose these duties in retaliation to a move by the US to impose high customs duties on certain steel and aluminium …

As US delays withdrawing GSP benefits, India postpones retaliatory tariffs
5 years, 8 months ago

As US delays withdrawing GSP benefits, India postpones retaliatory tariffs

Live Mint  

New Delhi: India on Thursday further delayed implementation of its June 2018 order to impose retaliatory tariffs on 29 US products by 14 days till 16 May as it awaits a final word from the US on its decision to withdraw duty-free benefits to Indian exporters. The US also announced in April last year to review the eligibility criteria of …

Why is GSP vital to India-U.S. trade ties?
5 years, 10 months ago

Why is GSP vital to India-U.S. trade ties?

The Hindu  

What is the programme? According to the website of the U.S. Trade Representative, the GSP helps spur sustainable development in beneficiary countries by helping them increase and diversify their trade with the U.S. The other benefit is that “GSP boosts American competitiveness by reducing the costs of imported inputs used by U.S. companies to manufacture goods in the United States.” …

Here is why India should be happy to be out of America’s GSP list
5 years, 10 months ago

Here is why India should be happy to be out of America’s GSP list

Op India  

I had never heard of GSP. Let us find out who are these “developing countries” that are in this GSP list. Do you really want India to be in a list that seems to consist solely of the absolutely poorest African countries, a couple of basket case Latin American economies and some failed states from the Middle East? Does it …

Donald Trump withdraws GSP duty benefits for India: Seven charts decode India-US trade over a decade
5 years, 10 months ago

Donald Trump withdraws GSP duty benefits for India: Seven charts decode India-US trade over a decade

Firstpost  

India was the largest beneficiary of the GSP programme in 2017 with $5.7 billion in imports given duty-free status US President Donald Trump on Tuesday announced plans to scrap the preferential trade treatment for India, claiming that New Delhi has failed to assure the US of “equitable and reasonable” access to its markets, a move India said will not have …

US to terminate India as GSP beneficiary: Will India approach WTO against Trump administration's threat?
5 years, 10 months ago

US to terminate India as GSP beneficiary: Will India approach WTO against Trump administration's threat?

Firstpost  

The GSP contains a list of countries and products which are allowed entry into the USA duty-free or on payment of lesser duties. Donald Trump, the famously protectionist American President, informed Congress on 5 March, 2019 that he intends to end India’s and Turkey’s preferential trade treatment under Generalized System of Preferences. Impact of removal of India from GSP program …

US' GSP withdrawal won't hurt India, benefits minimal: Official
5 years, 10 months ago

US' GSP withdrawal won't hurt India, benefits minimal: Official

The Quint  

New Delhi, March 5 Downplaying the likely effects of the US withdrawal of benefits for Indian exports under the Generalised System of Preferences programme, Commerce Secretary Anup Wadhawan on Tuesday said the decision will not have any major impact on overall Indian exports to the US as the concessions availed under the scheme were "minimal". Speaking to reporters here, the …

U.S. move to withdraw GSP status will have minimal impact, says India
5 years, 10 months ago

U.S. move to withdraw GSP status will have minimal impact, says India

The Hindu  

The Indian government on Tuesday downplayed the effect of the decision by the United States government to withdraw trade concessions granted to India under the Generalised System of Preferences, with Commerce Secretary Anup Wadhawan saying that the impact would amount to $190 million on total export amount under GSP of $5.6 billion to the US. The US Trade Representative office …

Donald Trump plans to end preferential trade terms for India under GSP
5 years, 10 months ago

Donald Trump plans to end preferential trade terms for India under GSP

The Hindu  

United States President Donald Trump has said he intends to end the preferential trade terms for India under the U.S.’s Generalized System of Preferences program. “I am taking this step because, after intensive engagement between the United States and the Government of India, I have determined that India has not assured the United States that it will provide equitable and …

Donald Trump plans to end India's preferential trade treatment
5 years, 10 months ago

Donald Trump plans to end India's preferential trade treatment

India Today  

US President Donald Trump said on Monday he intends to end India's preferential trade treatment under a program that allows $5.6 billion worth of Indian exports to enter the United States duty free. The US Trade Representative's Office said removing India from the Generalised System of Preferences program would not take effect for at least 60 days after notifications to …

No zero-sum games: on India-U.S. trade hostilities
5 years, 11 months ago

No zero-sum games: on India-U.S. trade hostilities

The Hindu  

There are alarm bells in India over a possible decision by the U.S. Trade Representative to withdraw the Generalised System of Preferences status. The revocation of the GSP, which was first extended to India in 1976 as part of a global concession by the U.S. to help developing countries build their economies, will be a blow to Indian exporters, and …

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