The U.S. has ultimately acted on its threat to withdraw concessions granted to Indian imports under the Generalised System of Preferences. With President Trump indicating as much in a letter to the House of Representatives and Senate, Washington became the first to pull the trigger in a long trade stand-off between the two countries. India-U.S. trade tensions escalated last year when the U.S. took two consecutive decisions to increase import tariffs on steel and aluminium, and place India’s eligibility for #GSP benefits under review. Shortly after, India said it would impose retaliatory tariffs on imports from the U.S. and even notified the list of items on which these would apply. Meanwhile, the U.S. stood fast on not exempting India from its tariff hikes, with Mr. Trump
update 29 march 2019 - भारत के विरोध में झुका अमेरिका gsp पर बदला अपना फैसला अब नहीं लेगा भारत से वह निर्यात tax
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english transcript of this video
After the Pulwama Terror attack, US President Donald Trump says that India is thinking of doing something bigger and after a few hours there is AIRSTRIKE in Balakot of Pakistan and then COUNTER RETALIATION is done by the side of Pakistan WING COMMANDER brought greetings from India to Pakistan The person who is going is within 60 hours, then after that, Prime Minister Narendra Modi goes to the conclave of a channel, in the beginning he praises itself and says that now you believe neither India It is possible that Modi is abroad, but it was possible that everyone knew that foreign policy was known to America and what America wanted, INDIA would have to do it and I had talked about this DIPLOMACY in my live chat that some of the coming For months you have to sharpen a little bit of eyesight that the government will now say what will be done in front of you
US President Donald Trump has said that he will get India out of GSP ie Generalized System of Preference What is GSP?
GSP is a trade program in America. Under this, the US imports imported goods without developing countries. This facility is given so that the developing countries can accelerate their economy. INCLUDING INDIA Currently, 129 countries are getting this BENEFIT. Since the year 1970, USA has adopted a special type of import policy and India, which receives BENEFIT, is the largest country in the world. And Exports America's GSP from under $ 5.58 billion i.e. 560 crores, the US has been quite difficult for the BJP government now because the Trump government has done this right before GENRAL ELECTIONS. And the government does not even have much time to answer it.
What problems India has to face due to the exit from GSP India has to pay more import duty to India, as well as import duty on India's handicrafts, chemicals, electricity related products and agricultural based products, and competition for many manufacturing sectors There will be damage. At the same time, CONSUMERS will also be harmed. Most chemical products are expected to grow at a rate of five percent, which is a major part of India's total exports. "
The question is whether America's Presidenet wants to
The US has long been demanding removal of pricing cap on medical devices, which is causing a lot of damage to American companies, as well as the US wants India to produce products related to IT products and agricultural sector coming from the US Provide more access to the market. According to US statistics, the two countries make a business of $ 126.2 billion annually
Last year, the US increased DUTY on steel and aluminum in imports from India. India had also increased tax on 29 US products including almonds. In response to this, India has recently released new e-commerce policies which affected the businesses of American companies, Amzon and Walmart, doing business in India. The US said that it would give the implementation of the policy more than 6 months but the result was Neil Butte silence and also the tension in the trade relations between the two countries. After this, new policies were brought about in India, under which companies like MasterCard and Visa, who were doing business in India, were asked to keep data related to Indians in India. This has affected the business models of these companies and balancesheet also got messy, which is now the new step taken by the USA
Now what will happen next, the United States has given sixty days time to stop GSP benefits for India. India hopes that during this negotiation some solution will be taken out. The business organization on either side hopes that there will be some way soon.#abpnews