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News18 Explains: What is GSP And How Will Its Withdrawal Impact India-US Trade?

Mar 06, 2019 06:56 PM IST India India

US President Donald Trump has said that he intends to end India's preferential trade treatment under generalised system of preferences (GSP) that allows $5.6 billion worth of Indian exports to enter the United States duty-free. Trump, who has vowed to reduce US trade deficits, has repeatedly called out India for its high tariffs. The GSP removal will leave a reasonable impact on India as the country enjoyed preferential tariff on exports worth of nearly $5.6 billion under the GSP route out of the total exports of $48 billion in 2017-18.

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