A senior US government official said that India can be included again under the Generalized System of Preference (GSP). He said that America is currently talking to India about this. There is also tension in the business relationship between the two countries between the India-China border disputes. On the other hand, America is trying to strengthen its business relations with India. A senior US government official said that India can be included again under the 'Generalized System of Preference' (GSP).
Significantly, before PM Modi's visit last year, 44 influential MPs of America had demanded from the Trump administration to keep India in the GSP trade program. The Trump administration excluded India from the 'Generalized System of Preference' (GSP) in June last year. Under GSP, India preferred to trade with the US.
GSP is America's largest trade program, whose beneficiary countries were exempted from duty in the export of thousands of products to America. In a letter to US Trade Representative Robert Leitzer, MPs said that "instead of hurrying, we have to provide markets for American industries and small issues should not come in the way".
Significantly, US Senator Maria Cantwell had expressed disappointment about the huge import tax of 70 per cent being imposed on apples going from his state to India. He raised the question that what the US government has done for India to reduce the tariff on it.
On this, Leitzer said, 'We agree with your views. The US is currently engaged in a major trade dialogue with India. We are having a big conversation with India. I am sure you will know that we are moving towards a free trade agreement. If something like this happens, it will happen to Asia as well. Senator Steve Dines of Montana raised the issue of alleged high tariffs on pulses in India.
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