Sources: US considers withdrawal of zero tariffs for India - Reuters

Dhwani Mehta FXStreet

Reuters quotes people with close knowledge of the matter, as saying that the US is considering the withdrawal of a vital zero tariffs concession on the Indian $5.6 billion of exports to the US.

A move to withdraw the Generalized System of Preferences (GSP) from India is mainly amid a widening dispute over its trade and investment policies, the sources said.

One of the sources said: “(The two sides) were trying to sort out the trade package, but were not able to actually finish the deal. In the meantime these other things, data localization and e-commerce, have come along. In a sense it’s like someone has rained on the parade.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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