USA trade curbs with Turkey at odds with 'mutual objectives'

Oscar PerryMar 06, 2019

Trump sent letters to Congress and the Turkish and Indian governments to notify them of the changes, setting off a 60-day countdown after which they will take effect via presidential proclamation.

Meanwhile, Trump said that he will continue to monitor if India is "providing equitable and reasonable access to its markets" and meet the GSP eligibility criteria. The Office of the US Trade Representative added, "GSP promotes sustainable development in beneficiary countries by helping these countries to increase and diversify their trade with the United States".

Under the preferential tariff system, India exports to the United States goods worth approximately $5.6 billion annually duty-free. As a result, the Indian government has now put on hold its plans to offer a "favourable trade package" to the United States, a top official told ThePrint.

The US goods and services trade deficit with India was US $27.3 billion in 2017, according to the US Trade Representative's Office. That's expected to affect over $5 billion worth of goods. "Our relations remain strong with the United States and discussions will go on", Commerce Secretary Anup Wadhawan told reporters here. "The GSP system is envisaged as a non-reciprocal benefit to developing countries".

In a letter to Congress leaders, Mr Trump said he was planning to remove India from the GSP because Delhi has failed to commit to allowing USA businesses equal access to Indian markets.

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. In January this year, he had slammed India for for 150% tariff on imported whiskey. "The withdrawal will not have a significant impact on India's exports to the United States", he said, reported news agency PTI.

Did IAF kill Masood Azhar's brother-in-law Yousuf Azhar in Balakot today?
They fought a third war in 1979 over East Pakistan, which gained its independence with the help of India and became Bangladesh. Pakistan called the attack a "grave aggression" and promised a "timely and effective response" by its own military.

US-India trade ties were hurt after India unveiled new rules on e-commerce that restrict the way Amazon.com Inc and Walmart Inc-backed Flipkart do business.

U.S. and Chinese trade representatives are wrapping up talks on a new deal which will end President Trump's trade war with Beijing.

Trade relations between the U.S. and Turkey have been tense since past year, when Trump authorised the doubling of steel and aluminium tariffs on Ankara, up to 50 and 20 percent, respectively that resulted in the Turkish lira falling to a historic new low.

The American Apparel and Footwear Association said in a written testimony that if GSP benefits are withdrawn for India as well as Indonesia and Thailand, "companies will have no choice but to return to sourcing from China". India declined saying it had commitments to make such medical devices affordable to the Indian patients, but agreed to open up the Indian market for a wide variety of USA farm produce - from cherries to chicken to milk products, which New Delhi had long resisted because of reservations over U.S. farm practices.

These requirements by India were that the exports should not come from cows that have been given cannibalised feed that includes offal or other meat products.

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