which country Plans To End India's Preferential Trade Treatment?
options
1) US
2)UK
3)France
4)Germany
answer
1) US
Other details
US is taking this step because, after intensive engagement between the United States and the Government of India, India has not assured the United States that it will provide equitable and reasonable access to the markets of India.
US intends to end India's preferential trade treatment under a program that allows $5.6 billion worth of Indian exports to enter the United States duty free.
The US Trade Representative's Office said removing India from the Generalized System of Preferences (GSP) program would not take effect for at least 60 days after notifications to Congress and the Indian government, and it will be enacted by a presidential proclamation.
The US goods and services trade deficit with India was $27.3 billion in 2017, according to the US Trade Representative's Office.
options
1) US
2)UK
3)France
4)Germany
answer
1) US
Other details
US is taking this step because, after intensive engagement between the United States and the Government of India, India has not assured the United States that it will provide equitable and reasonable access to the markets of India.
US intends to end India's preferential trade treatment under a program that allows $5.6 billion worth of Indian exports to enter the United States duty free.
The US Trade Representative's Office said removing India from the Generalized System of Preferences (GSP) program would not take effect for at least 60 days after notifications to Congress and the Indian government, and it will be enacted by a presidential proclamation.
The US goods and services trade deficit with India was $27.3 billion in 2017, according to the US Trade Representative's Office.
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