Trump Revokes GSP for India
On Friday President Trump revoked the U.S. Generalized System of Preferences program, the trade deal better known as GSP that had been allowing tariff-free imports of up to $5.6 billion a year from India, as of June 5.
Under the GSP program, which dates back to 1974, the U.S. government offers a number of poorer countries, India included, lower tariffs than it applies to imports from other countries in the World Trade Organization.
The move impacts the following active ingredients:
2,4-D (and other phenoxy herbicides)
Micronized sulfur – formulated
According to Reuters, the Indian government said that India viewed the issue as part of its ongoing economic relationship with the U.S. and “will continue to build on our strong ties with the U.S., both economic and people-to-people.” The Indian government said it was “unfortunate” that its attempts to resolve significant U.S. requests had not been accepted, Reuters said.
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