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15 Jul 201922:31

United States intensifies trade crusade: will end tariff preferential status for India and Turkey

The American giant believes that India maintains in force trade barriers that stop international trade, while Turkey has already reached enough economic development.

05 Mar 2019 — 10:00
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United States intensifies trade crusade: will end tariff preferential status for India and Turkey

 

 

The American power opens new fronts in its trade crusade. The United States decided to kick India and Turkey out of the Generalized System of Preferences (GSP), because they no longer meet the required criteria to benefit from tax exemptions to export to the country.

Under the GSP program, certain products can enter the United States duty-free if the beneficiary developing countries meet the eligibility criteria established by the United States Congress.

 

The movement made by the United States comes at it continues in negotiations with China, in order to reach an agreement to end the trade war that they have maintained since 2018.

 

 

 

 

The United States considers that it does not have the facilities to export products to India, because the country has implemented a wide variety of barriers that hinder trade, according to a statement from the Office of the U.S. Trade Representative.

 

However, Anup Wadhawan, secretary of commerce in India, said that the withdrawal of tariff preferences to his country will have a minimum economic impact of 190 million dollars on its exports.

 

In the case of Turkey, the United States considers that the country is already developed enough economically, and that it no longer qualifies for the GSP, from which it has benefited since 1975.

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