The BL News—The U.S. to end India's zero-tariffs status


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The BL News—The U.S. to end India's zero-tariffs status

A Senior Fellow at a New Delhi think tank said on Tuesday that the US dropping zero-tariffs status for India would not "fundamentally change the trade relations between the US and India."

The Senior Fellow from the Observer Research Foundation added that he believed the decision for the US to drop India's preferential status was "unilateral" because the Indian government is serious about cutting down the American trade deficit.
India's commerce ministry said on Tuesday that it wouldn't try to hold onto its preferential zero-tariffs status with the United States after Washington decided to drop it from its Generalised System of Preferences (GSP) programme.
The GSP programme gives developing countries duty-free treatment for exports of thousands of products.
It is meant to help such countries grow their economies by encouraging trade. The ministry added that India has already outgrown the GSP programme as the savings on tariffs amounted to only 190 million US dollars a year.

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