The US on Thursday revoked duty-free concessions on import of at least 50 Indian products, mostly from handloom and agriculture sectors, reflecting the Trump administration’s tough stand on trade-related issues with New Delhi. The federal register issued a notification, listing out 90 products which were so far subject to duty-free provisions under the Generalized System of Preferences (GSP).
President Donald Trump issued a presidential proclamation on Tuesday, leading to the removal of these products from the privilege beginning November 1. As of November 1, these products “will no longer qualify for duty-free preferences under the GSP programme but may continue to be imported subject to regular Most Favored Nation duty-rates,” an official of US Trade Representative told media sources.
A review of the products indicates that the presidential proclamation is not country-specific, but product specific. With India being the largest beneficiary of the GSP, it has been hit the most by the latest decision of the Trump administration.