Termination of Eligibility for a duty-free import scheme
June 3 , 2019 1908 days 713 0
The United States on formally terminated India’s eligibility for a duty-free import scheme for developing countries on 31 May.
It is because that India has not given assurances it “will provide equitable and reasonable access to its markets” to US companies as required under relevant American trade laws.
According to this, USA would end its preferential trade treatment for India on June 5, 2019.
India has been the largest beneficiary of this duty-free programme which allows certain imports from 120 countries to enter the United States at zero tariff.