Tuesday, 24 May, 2022
TopicGSP

Topic: GSP

India hopeful Biden could restore GSP benefits, but free trade deal to be on backburner

The Joe Biden administration is unlikely to be keen on launching talks for having a free trade agreement with the Modi government.

India was not in Trump’s hit list of countries over trade but still had tariffs imposed

India’s trade surplus with US was minor compared to China, Japan and Mexico. But Trump slapped steel, aluminium tariffs & withdrew GSP benefits.

Modi and Trump to unveil long-pending trade deal at bilateral meeting in New York today

The ‘limited’ trade package was given final shape when Commerce Minister Piyush Goyal met US Trade Representative Robert Lighthizer in New York Monday.

India, US looking to ease trade tensions ahead of Modi-Trump meet

Easing of trade tensions will help India boost exports and cushion an economic slowdown caused by a collapse in domestic consumption.

US lawmakers urge Trump to reinstate GSP eligibility for India

Data shows that loss of India's designation as a beneficiary developing nation under the GSP cost American companies about USD 30 million in July.

Trade benefits with US gone, Modi govt now plans to offer a ‘better’ package to Trump

India watchers not optimistic that new offer, of better market access to US agriculture and dairy products, will cut much ice with Trump administration.

India is annoyed as Trump yanks its status as developing nation

The Trump administration decided to hold off on the announcement until after India’s elections to avoid hurting Modi politically.

Trump strips India of preferential trade status, gives Jaishankar his first challenge

The Donald Trump administration removed India's designation on the grounds that it had not assured US of providing "equitable and reasonable access" to its markets.

US extends duty benefits on Indian exports until next govt is formed

US has agreed to extend GSP benefits ‘long enough for India to revert after elections’, a move that comes after some ‘adroit diplomacy’ by New Delhi.

Threat of trade war with US looming, India to send delegation to Washington

Delegation will attempt to convince the US to extend its GSP programme, through which Delhi gets over $5 billion in zero or reduced tariffs.

On Camera

YourTurn

World’s $300 trillion in debt. Here’s what it means for services like health, education

To meet debt payments, at least 100 countries will have to reduce spending on essential services, the IMF estimates.

Defence

Boeing's F/A-18 Super Hornet pulls off its first successful launch from a ski-jump at Naval Air Station Patuxent River, US | Photo credit: Boeing

2 American Super Hornets in India as Boeing looks to showcase fighters for Navy deal

Navy looking at about 26 multi-role deck-based fighters for its aircraft carrier. Visit by Super Hornets comes close on heels of similar trip by competitor Rafale M of Dassault Aviation.

Mandir or Masjid? New surveys not needed, just acceptance of truth & move towards reconciliation

That temples were destroyed and mosques built is undisputed history. The past can’t be changed, but we can’t deny the wrongs of the past either before we consider reconciliation.
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