He Plans To End Preferential Trade Treatment To India, Donald Trump Says
Donald Trump wrote in one letter, the content of which was discharged by the White House that the change for India came after "escalated commitment" between New Delhi and Washington.
Washington, DC, USA:
On the order of President Donald Trump, Washington intends to remove the preferential trade status granted to India and Turkey, announced Monday the Office of the U.S. chief of trade.
This decision comes at a time when the United States and China are seeking to negotiate an end to a costly trade war between the two countries, which is part of the Trump administration's efforts to remedy what it considers to be unfair trade relations with other states.
Washington "intends to terminate the designations of India and Turkey as beneficiary developing countries under the Generalised System of preferences (GSP) programme, as they no longer meet the legal eligibility criteria", said the US Trade Representative in a statement.
India did not provide assurances that it would allow the required market access, while Turkey is "economically developed enough" to be ineligible, he added.
Under the GSP scheme," certain goods "may enter the United States duty-free if the countries meet the eligibility criteria, including"providing fair and reasonable market access to the United States".
India, however, "has put in place a wide range of trade barriers that are creating serious negative effects on U.S. trade," according to the communiqué.
Turkey, having been designated a GSP beneficiary in 1975, has demonstrated a "higher level of economic development", which means that it can be "withdrawn" from the programme.
The changes must not enter into force until at least 60 days after notification of the Congress and the countries concerned. A process began Monday with letters to the Speaker of the House of Representatives and the Speaker of the Senate.
'Intensive Engagement'
The change for India came after the "intensive engagement" between New Delhi and Washington, Trump wrote in a letter, the text of which was published by the White House.
"I will continue to assess whether the Indian government is providing fair and reasonable access to its markets in accordance with GSP eligibility criteria," the president wrote.
In his letter on Turkey, Mr. Trump stated that the country's economy "has developed and diversified", and stressed that Istanbul has already"graduated from the GSP programs of other developed countries".
Trump has made the fight against what he sees as unbalanced trade relations a central element of his presidency - triggering a trade war with Beijing that has lasted for nearly a year.
The United States and China have finally agreed to a 90-day truce to settle their differences, and Beijing and Washington have moved closer to an agreement in recent weeks.
The truce was supposed to end on Friday, but Trump lifted the ultimatum to raise tariffs further, satisfied with the progress made in several rounds of negotiations.
As part of an agreement under development, Beijing would lower certain barriers to U.S. business in China and would buy large quantities of U.S. agricultural and energy products if the U.S. lowered most tariffs.
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| He Plans To End Preferential Trade Treatment To India, Donald Trump Says |
Washington, DC, USA:
On the order of President Donald Trump, Washington intends to remove the preferential trade status granted to India and Turkey, announced Monday the Office of the U.S. chief of trade.
This decision comes at a time when the United States and China are seeking to negotiate an end to a costly trade war between the two countries, which is part of the Trump administration's efforts to remedy what it considers to be unfair trade relations with other states.
Washington "intends to terminate the designations of India and Turkey as beneficiary developing countries under the Generalised System of preferences (GSP) programme, as they no longer meet the legal eligibility criteria", said the US Trade Representative in a statement.
India did not provide assurances that it would allow the required market access, while Turkey is "economically developed enough" to be ineligible, he added.
Under the GSP scheme," certain goods "may enter the United States duty-free if the countries meet the eligibility criteria, including"providing fair and reasonable market access to the United States".
India, however, "has put in place a wide range of trade barriers that are creating serious negative effects on U.S. trade," according to the communiqué.
Turkey, having been designated a GSP beneficiary in 1975, has demonstrated a "higher level of economic development", which means that it can be "withdrawn" from the programme.
The changes must not enter into force until at least 60 days after notification of the Congress and the countries concerned. A process began Monday with letters to the Speaker of the House of Representatives and the Speaker of the Senate.
'Intensive Engagement'
The change for India came after the "intensive engagement" between New Delhi and Washington, Trump wrote in a letter, the text of which was published by the White House.
"I will continue to assess whether the Indian government is providing fair and reasonable access to its markets in accordance with GSP eligibility criteria," the president wrote.
In his letter on Turkey, Mr. Trump stated that the country's economy "has developed and diversified", and stressed that Istanbul has already"graduated from the GSP programs of other developed countries".
Trump has made the fight against what he sees as unbalanced trade relations a central element of his presidency - triggering a trade war with Beijing that has lasted for nearly a year.
The United States and China have finally agreed to a 90-day truce to settle their differences, and Beijing and Washington have moved closer to an agreement in recent weeks.
The truce was supposed to end on Friday, but Trump lifted the ultimatum to raise tariffs further, satisfied with the progress made in several rounds of negotiations.
As part of an agreement under development, Beijing would lower certain barriers to U.S. business in China and would buy large quantities of U.S. agricultural and energy products if the U.S. lowered most tariffs.
He Plans To End Preferential Trade Treatment To India, Donald Trump Says
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