US Plans To Abolish Treatment Of GSP In India And Turkey

The US trade representative, 4, announced that under the direction of President Trump, the US government plans to cancel the GSP treatment granted to India and Turkey.

A statement issued by the US trade representative office said on the same day that the United States government would terminate the GSP treatment in India because it failed to ensure fair and reasonable market access conditions in many industries.

At the same time, as Turkey's economy is well-developed, it should not enjoy preferential treatment in the US market.

According to the law, the abolition of the GSP treatment can only take effect at least 60 days after notifying the US Congress and the relevant governments.

In April 2018, the United States launched a review of the market access qualification of India GSP.

According to the statement of the office of the United States trade representative, India has set up a series of trade barriers, which has a serious negative impact on us business.

Despite intensive contacts between the two governments on related issues, India has failed to take the necessary measures to meet the standard of GSP.

At the same time, the US government believes that the increase in per capita national income, the decrease in poverty rate and the diversification of exports in Turkey prove that the level of economic development in the country has been relatively high and should not continue to enjoy the GSP treatment applicable to developing countries.

GSP refers to a system of international trade which unilaterally faces the preferential treatment of goods and semi manufactured goods imported from developing countries by the developed countries. It is a more preferential treatment on the basis of the most favored nation treatment rate.