WASHINGTON (Reuters) – The suspension of a U.S. trade preference program with India is a “done deal,” a senior State Department official said on Thursday as Prime Minister Narendra Modi began his second term.
President Donald Trump announced in March he would end India’s access to the decades-old Generalized System of Preferences (GSP) trade program over what the U.S. said was lack of access to India’s market. The program allows emerging countries to export goods to the United States without paying duties.
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U.S. law requires the administration to wait 60 days after it notifies Congress of the move before it formally ends India’s participation in the program. Trump notified Congress of the move in early March.
“There is every reason to believe that GSP suspension will move forward,” the official told reporters, speaking on condition of anonymity. “What is important is that the interest is to resolve trade irritants – to ensure fair and equitable...
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