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Dear Valued Customer,
The following is provided for your information:
India to be terminated from GSP on June 5
On the evening of May 31, 2019, the White House announced that India would be removed from the Generalized System of Preference (GSP) effective June 5, 2019. The GSP, which was reauthorized by the Senate and the House last year, is a US trade program which is designed to promote trade and economic growth in developing countries by provided exemptions from duties for over 4,000 products from enrolled countries and territories. The removal of India’s status as a developing country and the GSP eligibility, according to the President, is because India has “not assured the United States that India will provide equitable and reasonable access to its markets”.
According to the Congressional Research Service, the amount of Indian goods exempted by the GSP exceeded $6 billion in 2018.
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