‘Unfortunate’, Says India As Trump Terminates Preferential Trade Status

Mumbai: Terming the unfortunate GSP by the United States, India vowed to protect the country’s national interests on Saturday in matters of trade

“As part of our bilateral trade discussion, India had carried forward America’s important requests in an effort to move forward in a more mutually acceptable manner, it is unfortunate that it was not approved by the US. Like India, America and other countries will always maintain their national interest in these cases. We have important developmental imperatives and concerns, and our people also want better standards of living. It will be the guiding factor in the government’s approach.”

It states, “In any relationship, especially in the field of economic relations, there are issues that are mutually resolved from time to time. We look at this issue as a part of this routine process and will continue to build on strong relations with America with our economic and people. We believe that the two countries will continue to work together to further these relations in a mutually beneficial manner. ”

Earlier in the day, President Donald Trump terminated the designation of India as a developing nation under the GSP trade program as a developing nation, after determining that it has not given assurances to the US that it is “in its markets Will provide equal and fair access.”

Under the GSP program, about 2,000 products, including auto components and textile materials, can enter US duty-free if beneficiary countries meet eligibility criteria established by Congress.