India, China no longer ‘developing nations’, ‘taking advantage’ of WTO status: Donald Trump
The US and China are currently engaged in a bruising trade war after Donald Trump imposed punitive tariffs on Chinese goods and Beijing retaliated.
The US and China are currently engaged in a bruising trade war after Donald Trump imposed punitive tariffs on Chinese goods and Beijing retaliated.
The government had on June 21, 2018, decided to impose these duties in retaliation to the US decision of significantly hiking customs duties on certain steel and aluminium products.
In a major White House declaration, US President Donald Trump on Friday said the designation of India as a beneficiary developing country is terminated, effective June 5.
Trump said India has not assured the US that it will provide equitable and reasonable access to its markets.
Donald Trump had in March informed the US Congress about his intent to terminate the designation of India as a beneficiary developing country under the Generalised System of Preferences programme.
Infosys founder NR Narayana Murthy said on Thursday that the Indian industry will have to work harder and smarter in the aftermath of the US decision to withdraw India’s name from Generalised System of Preferences (GSP).
US President Donald Trump on Monday announced that he was ending India's trade concessions under the GSP programme accusing New Delhi of not providing Washington "equitable and reasonable access" to its markets.
Trump's letter to the Speaker of the US House of Representatives, Nancy Pelosi could be seen as a major setback in India-US bilateral relationship, in particular in the arena of trade and economy.
