The United States is considering canceling India’s zero-tariff export preferential treatment
According to people familiar with the matter, as trade and investment policy disputes expand, India’s zero-tariff preferential treatment for US$5.6 billion in exports to the United States may be cancelled.
The United States has implemented the Generalized System of Preferences since the 1970s, and India has become the largest beneficiary of this system. If this preferential treatment is withdrawn, it will be the most severe punitive measure since US President Trump took office in 2017 and vowed to reduce the trade deficit between the United States and large economies.
Trump has repeatedly named India for imposing high tariffs on the United States.
Indian Prime Minister Narendra Modi is trying his best to attract foreign investment as part of the “Make-in-India” plan, aiming to turn India into a manufacturing center and provide employment opportunities for millions of people. Young people entering the workplace.
Trump called for U.S. manufacturing to return home as part of his “Make America Great Again” plan.
India’s new e-commerce rules will limit the way Amazon.com Inc and Walmart Inc’s Flipkart do business in India’s fast-growing online market, triggering changes in the U.S.-India trade relationship. The Indian online market is expected to reach US$200 billion by 2027.
Sources said that the Office of the United States Trade Representative (USTR) will complete a review report on India’s status as a beneficiary of the general preferential tariff system and is expected to release the results in the next two weeks.
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