US move 'unfortunate', says India as Trump ends GSP trade privileges

Traders say exports to become costlier, less competitive in specific sectors, but overall impact minimal

US President Donald Trump has signed off on a presidential decree to cut off India’s tariff-free access to the US market under the Generalised System of Preferences (GSP) scheme. “I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets,” he said in a statement on Friday.

The move drew a mild reaction from the new government in New Delhi, which said it was “unfortunate” and hinted at further talks on the matter. “In any relationship, especially in the area of economic ties, there are ongoing issues which get resolved