India suffers collateral damage in Trump’s trade war against China, Mexico
WASHINGTON: India has suffered collateral damage in the trade war unleashed by President Trump against major trading partners such as China and Mexico.
The White House announced on Friday that it was terminating India’s special market access to the United States under the Generalized System of Preferences (GSP) program as of June 5. “I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” President Trump said in a statement on Friday.
Conceived by Washington in 1974 to help 120 developing countries and territories advance their economy and markets, the GSP regime saw India become one of the biggest beneficiaries, most recently accounting for nearly a quarter of the goods that got duty-free access to the US overall, nearly 12 per cent of all Indian exports to US — worth nearly $5.5 billion out of $83 billion— got the zero tariff benefit as of 2017.
That concession is now over as President Trump bears down on what he believes are American handouts to countries that are now trending towards middle-income or developed status, with some of them being “ungrateful” to boot.
Trump has complained repeatedly that India is a "very very high tariff nation," highlighting in particular New Delhi's taxes against high-end Harley Davidson motorcycles (even after the taxes were cut in half), even though the amount involved is paltry in the overall scheme of things.
In recent years, India has been forced to open its markets to California’s almonds, Washington’s apples, and chicken legs from Middle America, but in the Trump view, all that is still chicken feed: India has to buy more to bridge the nearly $25 billion in trade deficit.
Jaspal Singh Sahota • New Delhi • 10 hours ago
China.. Russia and India should together stand against bully.. Accept slavery or not your choice
Raviraj Nair 73 • Raviraj • 18 hours ago
US is always an unreliable partner for developing countries. India need to be firm at times.
Rairaj Nair • Location • 5 hours ago
India developing? why...thought India now is super power under the Divider in Chief.
Gautam De• 187 • Raviraj Nair • 6 hours ago
Is India reliable? Remember, rejecting license to Walmart? Now kicking out Amazon to protect Reliance. Is this reliable partnership?
Sourav Ray• 375 • Sourav • 18 hours ago
Trump is an idiot and will finish US.
Waleed • 18 hours ago
Just ban trade with Pakistan. India is strong enough that it can survive on own while US and China lock horns. India has bigger goals. soon China will be out of the equation and India will rise
Waleed Tafheem • Earth • 13 hours ago
Software exports t US bring bulk of the forex needed to buy crude oil
Pbch Chowdhuri • India • 17 hours ago
It is high time that India stopped depending on the USA for either trade or jobs.
Truth Hurts • Location • 8 hours ago
hahahahaha india is never dependent on any country, remember when US put sanctions on India for nucleor tests. What happened ? nothing.
Rajiv Modi • 17 hours ago
Trump policy is America First. Let so be for us!
selvan p • 18 hours ago
trump wants to protect his own country. whats wrong with that.
toothy lion• 465 • selvan p • 14 hours ago
just like american protect themselves from Irag and Syria by attacking them?
selva p • 16 hours ago
No harm,Modi will protect India from US
chanakya • Mumbai • 17 hours ago
We are still heavily dependent on china products. Indians still prefer chinese mobile ove indian mobiles. Unless Modi does something for the growth of manufacturing industry , our situation is going to worsen
Indian hell • chanakya • modi land • 12 hours ago
Indian mobile? what the hell is that? show any if U can
Indian hell • Australia • 7 hours ago
What a pathetic brain. Haven''t you heard of Lava, made in India and the second biggest selling mobile in China ?
chanakya • 13 hours ago
Because Indian quality is worst in the world.
Admit it.Nothing wrong with Chinese mobiles.
Vande Matram • Earth • 18 hours ago
Trump wants to do trade on his terms.
584 • Parth • 13 hours ago
I don't think this time US Indians will support Truimp in the next election
Daulat • Mumbai • 13 hours ago
India is now a matured Democracy, it should look after the interests of its population and the interests of its economy! To hell with what US does.. Cause US is acting in its own benefit. Whether it's Trump or Pump, We should go ahead with the buying of S400 triumph and ao America that We can't be bullied around. They will come around as they have Arms ro sell..
Pradeep Rastogi• 204 • Pradeep • 14 hours ago
india shd go ahead in full steam for the purchase of S4oo missile sysyem from Russia...if its america first for trump its India first for modi
Vishnu • 16 hours ago
Modi is Bahubali.US canot do anything.
Krishnan Ram • 13 hours ago
Corruption is India birthright!!
Vipul Agarwal • 17 hours ago
Implement 2 child policy in India , if population can be controlled half of problem of India is solved
Truth Hurts • 12 hours ago
Modi''s achhe din...........ha ha ha ha ha.
Papa • 18 hours ago
USA is scared of Modi ji... everyone knows..Indian economy is 100 times bigger than USA ..
Papa Ji • 17 hours ago
Are you drunk? Hahaha frog in a well....
Aravindan • Kuala Lumpur • 12 hours ago
BJP is not dummy congress,,,India can overcome it.
Gadkari • 18 hours ago
Shri Modi Ji is planning to ambush Trump and give him 5 Hugs. Hope at least this surgical strike works.
hello there• 5290 • Gadkari • 5 hours ago
The hugs are going to be tighter this time around.. and decisions will be made in 1 minute
Srini • hyd • 8 hours ago
56 became 5.6.
Paresh • 12 hours ago
he is the Rahul Ghandy of America.
mohit anand 3603 • Mohit • 6 hours ago
More damage will come to India, in coming days due to unilateral sanctions by America.