International News
A group of 25 influential American lawmakers has urged the US Trade Representative not to terminate the GSP programme with India after the expiry of the 60-day notice on Friday, saying the country's companies seeking to expand their exports to India could be affected.The Generalized System of Preference (GSP) is the largest and oldest US trade preference programme and is designed to promote economic development by a
llowing duty-free entry for thousands of products from designated beneficiary countries.
On March 4, President Donald Trump announced that the US intends to terminate India's designations as a beneficiary developing country under the GSP programme.The 60-day notice period ends on May 3.
On the eve of the end of the notice period, the 25 US lawmakers made a last-ditch effort to convince the Trump administration from going ahead with its decision.
The 25 members of the US House of Representatives in a passionate letter urged US Trade Representative Robert Lighthizer to continue negotiating a deal that protects and promotes jobs that rely on trade both imports and exports with India.They argued that terminating GSP for India would hurt American companies seeking to expand their exports to India.
"India's termination from GSP follows its failure to provide the United States with assurances that it will provide equitable and reasonable access to its markets in numerous sectors," Trump had said in a letter to Congress, providing a notice of his intent to terminate the designation of India as a beneficiary developing country under GSP programme.In his letter, Trump said that he was determined that New Delhi had "not assured" the US that it would "provide equitable and reasonable access" to the markets of India...Read More
No comments:
Post a Comment