The United States of America is revoking India’s status as a beneficiary developing country for purposes of the Generalised System of Preferences (GSP) from June 5. This came in as a proclamation issued by US President Donald Trump.
“The designation of India as a beneficiary developing country is terminated, effective June 5, 2019,” Trump said.
India is also removed from the USA’s list of “developing country WTO Members” who all are exempted from the application of safeguard measures on CSPV products and large washers.
“In Executive Order 11888 of November 24, 1975, the President designated India as a beneficiary developing country for purposes of the Generalized System of Preferences…I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets. Accordingly, it is appropriate to terminate India’s designation as a beneficiary developing country effective June 5, 2019,” read the President’s proclamation.
The United States also announced on Friday that it had withdrawn its tax exemption program for Pakistani diplomats.