Know all about generalized system of preferences or GSP benefits of United States

28 Jun 2019 10:24 AM

Know all about generalized system of preferences or GSP benefits of United States

Updated 28 Jun 2019 10:24 AM

Trade is a cause of major friction between India and the US, with Trump on a warpath on tariffs. Last month, US withdrew the General Scheme of Preferences (GSP) trade concessions to India accusing it of failing to provide "equitable and reasonable access" to its markets.

India on June 16 retaliated by hiking tariffs on 28 US products.

"I look forward to speaking with Prime Minister Modi about the fact that India, for years having put very high tariffs against the US, just recently increased the tariffs even further," Trump tweeted while heading to Osaka on Thursday. 

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