1.India could lose a vital US trade concession, under which it enjoys zero tariffs on $5.6 billion of exports to the United States, amid a widening dispute over its trade and investment policies.
\n2.The move to withdraw the generalised system of preferences (GSP) from India, the world\u2019s largest beneficiary of a scheme that has been in force since the 1970s, would be the strongest punitive action by the US Government.
\n3.Generalised System of Preferences (GSP) is a preferential tariff system extended by developed countries to developing countries (also known as preference receiving countries or beneficiary countries). It is a preferential arrangement in the sense that it allows concessional low\/zero tariff imports from developing countries.
\n4.The trigger for the latest downturn in trade ties was due to following reasons
\nA) India\u2019s new rules on e-commerce which restricts players from selling the products of companies in which they have a stake, and capping the percentage of inventory that a vendor can sell through a marketplace entity (IT platform of an e-commerce entity) or its group companies.
\nB) India last year had announced proposals to force foreign companies to store more of their user data locally, in a bid to better conduct legal investigations which forced global card payments companies such as Mastercard and Visa to move their data to India.<\/p>\n","protected":false},"excerpt":{"rendered":"
1.India could lose a vital US trade concession, under which it enjoys zero tariffs on $5.6 billion of exports to the United States, amid a widening dispute over its trade and investment policies. 2.The move to withdraw the generalised system of preferences (GSP) from India, the world\u2019s largest beneficiary of a scheme that has been… Continue reading U.S. may end zero\u00ad tariffs for India<\/span><\/a><\/p>\n","protected":false},"author":61,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[164],"tags":[5181,5182],"class_list":["post-327","post","type-post","status-publish","format-standard","hentry","category-international-relations-daily-factly-articles","tag-us-india-trade","tag-zero-trade-tariffs","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704847092},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/61"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=327"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/327\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}