Home > Rstv-big-picture

Blog / 06 Mar 2019

(Video) Rajya Sabha TV (RSTV) The Big Picture: US-India Preferential trade

image

(Video) Rajya Sabha TV (RSTV) The Big Picture: US-India Preferential trade

Topic: US-India Preferential trade

Guest:

  • Jayant Dasgupta, (Former Ambassador of India to WTO)
  • Niraj Srivastava, (Former Ambassador)
  • K. A. Badarinath, (Editor in Chief, Financial Chronicle)

Topic Description:

The US plans to end preferential trade status for India, under a scheme which allows certain products to enter the US duty-free. President Donald Trump said India had failed to assure the US it would provide reasonable access to its markets. India said the US move would have a "minimal economic impact". It is the latest US attempt to counter what it sees as unfair trade practices. President Trump has pledged to reduce US trade deficits, and has repeatedly criticised India for high tariffs. As a result, he directed the US Trade Representative's (USTR) office to remove India from a programme that grants it preferential trade treatment. Preferential trade treatment for India currently allows $5.6bn worth of exports to enter the United States duty free. In a letter to Congress, the US president said India had "not assured the United States that it will provide equitable and reasonable access to the markets of India". Under the Generalised System of Preferences (GSP) programme, "certain products can enter the US duty-free if the beneficiary developing country meets a set of criteria established by Congress".

Click Here for Archive

राज्य सभा टीवी विशेष के लिए यहां क्लिक करें

Courtesy: RSTV