Washington [USA], Jun 1 (ANI): The United States is slated to revoke India's status as a beneficiary developing country for purposes of the Generalised System of Preferences (GSP) from June 5, according to 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.
Washington has also made the decision to remove India from its list of "developing country WTO Members" who are exempt from application of safeguard measures on CSPV products and large residential 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.
This comes at a time when the United States is locked in a trade dispute with China, and amid Trump's threats to raise tariffs on Mexican imports citing the illegal immigrant crisis.
The United States also announced on Friday that it had withdrawn its tax exemption programme for Pakistani diplomats.