Indian tariffs not acceptable

The US President has said that India’s tariff regime is no longer acceptable. India had imposed long pending retaliatory tariffs on 29 US products after US had withdrawn Generalized system of preferences (GSP) for Indian exporters. GSP is a preferential tariff system extended by developed countries to developing countries.It is a preferential arrangement in the… Continue reading Indian tariffs not acceptable

Many nations offer India GSP benefits, but US move will affect competitiveness

United States has withdrawn Generalized System of Preferences (GSP) Scheme to India provoking India to impose retaliatory tariffs on many imports of US goods. However,India still continues to enjoy tariff preference from many countries including Australia,Russia and Japan as well as the European Union (EU) among others. Further,within the group of countries that provided GSP… Continue reading Many nations offer India GSP benefits, but US move will affect competitiveness

State department reiterates Trump’s ‘fair and reciprocal trade’ message for India

The US State Department has reacted to India’s announcement of retaliatory tariffs on certain U.S. imports by reiterating U.S. President message of reciprocal trade and the strength of U.S.-India ties. Recently,the United States Trade Representative(USTR) had said that there will be not be a trade action against India but US will continue to raise market… Continue reading State department reiterates Trump’s ‘fair and reciprocal trade’ message for India

India to impose retaliatory tariffs on 29 U.S. goods from June 16

India has decided to impose the long pending retaliatory tariffs on 29 US products after US had withdrawn Generalized system of preferences (GSP) for Indian exporters. This action comes a year after the notification for the retaliatory tariffs was issued in 2018 in response to penal duties imposed on Indian aluminium and steel by the… Continue reading India to impose retaliatory tariffs on 29 U.S. goods from June 16

U.S. open to dialogue on GSP, says Pompeo

The US secretary of state has said that the US could discuss its decision to withdraw duty-free benefits to Indian exporters under the generalized system of preferences (GSP) scheme. GSP is a preferential tariff system extended by developed countries to developing countries.It is a preferential arrangement in the sense that it allows concessional low/zero tariff… Continue reading U.S. open to dialogue on GSP, says Pompeo

US President Donald Trump terminates preferential trade status for India under GSP

The USA has terminated India’s designation as a beneficiary developing nation under the Generalized System of Preferences (GSP) programme. The US has terminated India’s designation as a beneficiary under GSP highlighting concerns over India not allowing equitable and reasonable access to its markets. The decision of U.S comes in the backdrop of issues like (a)… Continue reading US President Donald Trump terminates preferential trade status for India under GSP

India delays levying retaliatory tariff on U.S. goods to June 16

Indian government has decided to extend the deadline to impose retaliatory import tariffs on 29 US products till June 16,2019. These deadlines were extended several times since June 2018 when India decided to impose these duties in retaliation to a move by the US to impose high customs duties on certain steel and aluminium products.… Continue reading India delays levying retaliatory tariff on U.S. goods to June 16

India extends retaliatory tariff deadline on US products

Indian government has extended its deadline to impose retaliatory import duties on 29 US products till May 16,2019. These deadlines were extended several times since June 2018 when India decided to impose these duties in retaliation to a move by the US to impose high customs duties on certain steel and aluminium products. Further,this extension… Continue reading India extends retaliatory tariff deadline on US products

Don’t terminate GSP benefits to India

A group of 25 influential US lawmakers has urged the US Trade Representative(USTR) not to terminate the Generalized System of Preferences(GSP) programme with India. They argued that terminating GSP for India would hurt American companies seeking to expand their exports to India. Recently,US had decided to terminate India’s designation as a beneficiary of its GSP.GSP… Continue reading Don’t terminate GSP benefits to India

Oil imports from Iran may be reduced as U.S. mulls waiver

Indian officials has been working closely with the United States to ensure that India gets a better deal on (a)the extension of the Iran oil sanctions waiver and (b)decision on withdrawing India’s preferential Generalised System of Preferences(GSP) status. During discussion with US officials,it was indicated that decision on the GSP withdrawal could be deferred until… Continue reading Oil imports from Iran may be reduced as U.S. mulls waiver