Trump ejects India from $5.6bn tariff deal over 'negative' trade barriers

Donald Trump says he plans to end India's preferential trade treatment

US President Donald Trump has chose to end Washington's preferential trade treatment for India that allows a duty exemption on more than $5 billion (€4.4 billion) worth of its goods coming into the United States.

US President Donald Trump has announced plans to end special trade treatment for India, while accusing the country of unfairly shutting out US businesses, CNN reported on Tuesday.

USA trade preference programmes such as the Generalized System of Preferences (GSP) provide opportunities for numerous world's poorest countries to use trade to grow their economies and climb out of poverty.

President Donald Trump said India had failed to assure the United States it would provide reasonable access to its markets.

Wadhawan said the impact of the U.S. action on India's exports will not be very significant as the duty benefits are worth only $190 million on exports worth $5.6 billion.

India is the largest beneficiary of the GSP exporting goods worth $5.6 billion to the United States under the programme.

The criteria include providing intellectual property protection, and giving the U.S. reasonable and fair market access. All the issues in the trade domain are on the table for discussions.

In a statement given to reporters, U.S. Trade Representative (USTR) Robert Lighthizer stated the reasons for India's termination of GSP status.

Chinese Embassy ‘utterly dissatisfied’ with Meng Wanzhou extradition, watching SNC-Lavalin
A Chinese court also sentenced a Canadian to death in a sudden retrial, overturning a 15-year prison term handed down earlier. Beijing has already lodged stern representations (with Ottawa), China's Foreign Ministry's spokesman, Lu Kang stated.

Ironically, a trade group warned that ending GSP for India could end up helping China. "Despite a number of serious bilateral trade issues, both India and the United States have gained from trade under the GSP programme", said USIBC president Nisha Biswal. The GSP programme provides additional benefits for products from least developed countries.

Sahai said the United States move, which would see tariffs of between 2-3 percent on the exempted goods, is most likely to hit leather, food processing, textile and few engineering goods.

The US demand for relaxation in norms for exports of medical devices and dairy products are non-negotiable to India.

Even if Modi doesn't want to raise the temperature, "the discourse in this country has been that America needs India to balance China", said Harsh Pant, an worldwide relations professor at King's College London. The issue of Indian tariffs being high has been raised from time to time. "They charge 100%. When India sends a motorcycle to us, we brilliantly charge them nothing".

The move comes as the U.S. and China seek to negotiate an exit from a costly trade war between the two countries that is part of the Trump administration's efforts to address what it views as inequitable commercial relationships with other states.

Addressing a four-day annual Conservative Political Action Conference (CPAC) in Maryland on Saturday, Trump accused India of being a "high tariff nation" and threatened to impose "a reciprocal tax" to match the heavy duties that New Delhi imposes on goods imported from the United States.

India considerably capped the pricing of medical devices such as knee caps and stents previous year, reducing it to as much as 60 per cent.

U.S. -India ties are more of "a collaboration of convenience", said Nick Bisley, an worldwide relations professor at Melbourne's La Trobe University.

Related:

  • Roy Williams helped off the sideline after collapse

    Roy Williams helped off the sideline after collapse

    He didn't play in the finale against North Carolina State as Fortin went the entire way. Assistant coaches and staff helped Williams up and off the court to the locker room.
    House panel launches sweeping probe of Trump

    House panel launches sweeping probe of Trump

    But the Democratic congressman said "we do not have the evidence" to start an impeachment procedure against the president. Mr Trump has faced a tough week politically with the spotlight back on the Russian Federation investigation.
    Luka Chuppi earns decent, Sonchiriya fails at the ticket window

    Luka Chuppi earns decent, Sonchiriya fails at the ticket window

    Despite 'Luka Chuppi' and ' Sonchiriya ' belonging to vastly different genres, the clash ended up affecting the latter's numbers. It also boasts of a few popular re-created numbers such as Coca Cola, Poster Lagwa Do and Tu Laung Main Elaaichi.
  • Man and dog snowbound in Oregon survive on taco sauce

    Man and dog snowbound in Oregon survive on taco sauce

    According to his rescuers, Taylor became stuck in deep snow on February 24 as he was driving down the Forest Service road. A day after the missing persons report was filed, a snowmobile spotted Taylor's vehicle and alerted authorities.
    Apparent tornado kills 14 in Alabama

    Apparent tornado kills 14 in Alabama

    He estimated a path of destruction about half a mile wide stretched several miles to the east from where the tornado touched down. President Donald Trump tweeted late Sunday, "To the great people of Alabama and surrounding areas: Please be careful and safe".
    Dragon capsule heads for space station

    Dragon capsule heads for space station

    Boeing is now scheduled to follow SpaceX's flight with an uncrewed test launch of its Starliner spacecraft as early as next month. The Dragon vehicle, launched by California's SpaceX company on Saturday, is created to make the attachment autonomously.
  • Donald Trump decries 'presidential harassment,' declares 'I am an innocent man'

    Donald Trump decries 'presidential harassment,' declares 'I am an innocent man'

    Trump also mocked the Southern accent of Sessions and criticized him for recusing himself from the Russian Federation probe. "The insane female senator from Hawaii - what she said about men [during the Kavanaugh hearings] was so bad", Trump said.
    Tesla Model 3 vs Polestar 2: performance, features, batteries, and price

    Tesla Model 3 vs Polestar 2: performance, features, batteries, and price

    Polestar CEO Thomas Ingenlath said the initial Polestar models would herald a wider range of electric vehicles. The use of Android technology also offers Polestar 2 drivers a high level of app flexibility.
    Huawei pleads not guilty to trade secrets charges in Seattle

    Huawei pleads not guilty to trade secrets charges in Seattle

    It expects use cases such facial recognition and video surveillance to emerge as the technology rolls out in India. A woman stands at the booth of Huawei featuring 5G technology at the PT Expo in Beijing, China September 28, 2018.
  • USA  lawmakers launch sweeping probe of Trump

    USA lawmakers launch sweeping probe of Trump

    Trump praised the conservative movement, saying, "Our movement and our future in our country is unlimited". Williams was punched February 19 while on the campus of University of California, Berkeley.
    Fortnite Season 8 Heats the World up With Volcanoes, Pirates, and Ninjas

    Fortnite Season 8 Heats the World up With Volcanoes, Pirates, and Ninjas

    For those looking to get this particular challenge done quickly, we've marked the location of the various camps on the map below. It is mostly created to encourage players to explore the new area and make doing so (thanks to the enhanced mobility) enjoyable.
    Donald Trump Welcomes to CPAC Activist Punched at UC Berkeley

    Donald Trump Welcomes to CPAC Activist Punched at UC Berkeley

    Mueller has since indicted Russian intelligence officers and made numerous charges against former associates of the president. Who is going around calling himself a democratic socialist for a long time, people like Alexandria Ocasio-Cortez.

Comments

Latest news

Trump says congress grilling of Cohen contributed to summit 'walk'
Waters has previously filed an inquiry for more information on Trump's finances to Deutsche Bank, which Democrats like Rep. Trump said he had to "walk away" instead of taking what he called a "bad deal".

McConnell: Enough Senate votes to reject Trump's wall move
At the same time, he signed an emergency declaration to shift $3.5 billion from military construction accounts to the border wall. Thirteen Republicans in the House joined Democrats last week to pass a resolution to block Trump's emergency declaration.

North Dakota State Was Also Served Fast Food at the White House
President Donald Trump received a No. 45 North Dakota State jersey . "Lots of hamburgers , lots of pizza". They're the latest championship team to visit Trump at the White House for a fast-food chow-down.

Liverpool boss Klopp trolled by Everton ballboy after Goodison Park draw
We are a little bit below points-wise what we did previous year . "Of course, City know what it's like to lead". One of those games in hand is Manchester United in midweek.

Jose Mourinho Would Have Handled Celtic Exit Differently To Brendan Rodgers
Brendan Rodgers lost his Premier League return game as his Leicester City side fell to a 2-1 defeat to Watford on Saturday. And a minute later the Foxes were level and it is the type of goal seen many times from them over the past few seasons.

South Korea conservatives: Canceled joint drills 'worst' for security
He argued that Trump's policies "gave him [Kim] stature for him to walk in and do what he did" during the summit last week. These projects provided much-needed cash to North Korea before the South shut them down during past periods of tensions.

Lyft races ahead of Uber to Wall Street listing
Lyft is now valued at $15bn, just seven years after it was founded by technology entrepreneurs John Zimmer and Logan Green. Revenue had skyrocketed more than 200 per cent in 2017 compared to 2016, when the company brought in $343.3 million.

Civilians die in India, Pakistan clashes
Pakistan's foreign minister Shah Mehmood Qureshi boycotted the meeting in protest over the invitation to his Indian counterpart. On Twitter in Pakistan, #PakSymbolofPeace was trending, while in India the top trend was #PakistanJihad.

New SpaceX astronaut capsule successfully launched on ISS test mission
In the meantime, NASA is paying two companies - SpaceX and Boeing - to build and operate its next generation of rocket ships. America has relied on Russia's Soyuz spacecraft for eight years after NASA retired the Space Shuttle in 2011.

Yan Valery Unleashes Absolute Rocket For Southampton Against Man Utd
Ralph Hasenhuttl's men were enterprising and energetic in a match in which they were unlucky to emerge defeated. We have done it so many times. "That maybe is the biggest thing".

Revitalised Lukaku excels on return as Manchester United's main man
With Manchester United in fine form, it was important to keep up the momentum ahead of what will surely be a tough fixture. This has happened before, so many great comebacks.

The Jonas Brothers discuss reunion in first United Kingdom interview
Now looking up nearly a year later, we're in the best place as family, which is the most important thing. She captioned the pic, "Glam baths. yes pls. the #jonasbrothers Are back! Hope you guys love it.

Winter storm watch for the Valley starting Sunday afternoon
The shield of snow will steadily shift east-northeastward with the back edge exiting most of the coastal plain around 1-2 p.m. Those reasons are why the snow isn't that heavy, and Boston probably will be in the 1-to-3-inch range when it's over.

Wing Commander Abhinandan undergoing 'cooling down' process, is met by Nirmala Sitharaman
The foreign minister said Pakistan would take action if it is provided with evidence against Jaish-e- Muhamamd. Pakistan retaliated by attempting to target Indian military installations on Wednesday.

Jaguars Draft 2019: Will Jacksonville miss out on Kyler Murray?
Murray is the flawless fit for Kingsbury and what he wants to do on offense. Murray said he intends to throw and run at Oklahoma's Pro Day on March 13.

Other news