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GSP withdrawal: Commerce Secretary Ross seeks 'transparency', 'mindset of moving forward' from India

ANI  |  US 

[USA], Jun 13 (ANI): The is open to dialogue and needs a mindset of moving towards an open economy, US said in his address at a major India-centric summit organised by Business Council here on Thursday morning.

Ross' remarks come close on the heels of the decision made by US to end preferential trade treatment for from June 5 over the trade barriers.

"Unfortunately, India could not provide assurance on our concerns and hence, of Preferences (GSP) benefits were withdrawn", Ross said at his keynote address.

Stressing on how India's tariffs are significantly higher than the US, Ross said, "I also explained to that the US will hold off on the GSP decision till the elections."

Ross also said the two democracies will continue to engage in talks to iron out issues that have strained trade relations between the two countries.

However, the lauded India and its efforts to improve ease of doing business.

"I will be visiting India again in the near future and I look forward to meeting Modi to enhance mutual investment potential," Ross said.

On Wednesday, had said that the US is open for a dialogue to resolve trade differences with India.

"It's a partnership of equals is how we see it. In my upcoming visit, we will probably discuss the GSP decision." Pompeo had said during his address at the ahead of his visits to India, Sri Lanka, and later this month.

"We remain open to dialogue, and we hope that our friends in India will drop their trade barriers and trust in the competitiveness" of their own companies, he had added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, June 13 2019. 22:51 IST