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US seeks huge tariff concessions to restore trade benefits to India

Sources said while revenues foregone by India would be $190-240 million a year, Washington is asking for tariff concessions in IT products amounting to $3.2 billion

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US India relations

Indivjal Dhasmana  |  New Delhi 

To restore trade benefits to India, the United States is asking for concessions that are much higher than the benefits the country would forgo with the withdrawal of the generalised system of preferences (GSP), affecting potential negotiations between the two countries. Sources said while revenues foregone by India would be $190-240 million a year, Washington is asking for tariff concessions in IT products amounting to $3.2 billion.

GSP allows India to export some goods to the US at zero tariff. Besides, the US is against New Delhi's move to put price cap on medical devices ...

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First Published: Thu, April 11 2019. 22:35 IST
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