India’s termination from the program follows its failure to provide the U.S. with assurances that it will give equitable and reasonable access to its markets.
President Donald Trump said Monday that he has kicked India and Turkey out of a decades-old U.S. program that allows developing countries to export thousands of goods to the United States without paying duties.
U.S. law requires Trump to wait at least 60 days after he notifies Congress and the governments of the two countries before he formally terminates their participation by issuing a presidential proclamation. Trump sent letters notifying Congress of the changes today. His move would raise duties on about $5 billion to $6 billion worth of goods the U.S. imports from India — or slightly more than 10 percent of India's total exports to the U.S. — and potentially provoke New Delhi to retaliate against Trump's steel and aluminum tariffs imposed last year.
GSP suspension would punish Indian companies that rely on the program to export goods such as chemicals, granite, machine valves and bathtubs to the United States. It would also raise costs for American companies by more than $225 million if tariffs are imposed, based on the amount of duties waived on Indian goods in 2017.
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