mo4ch:>'Done deal’: India will lose its trade benefits, US officials say | Mo4ch News
The removal of India from a preferential trade deal which allowed for $5.6bn in duty-free imports, is inevitable, American officials have stressed, claiming, however, that the US wants nothing but good relations with its partner.Calling India a “high tariff nation” and repeatedly accusing the South Asian country of failing to provide the US with unlimited access to its markets, Washington announced its intention to terminate India's Generalized System of Preferences (GSP) designation in March. Though the 60-day notice period for New Delhi ended on May 3, the US has yet to issue a statement on the fate of India's status.“There is every reason to believe that GSP suspension will move forward,” a State Department official told Reuters.Also on rt.com‘No knee-jerk reaction’: India says impact of US withdrawal of trade benefits will be limited“I think that suspension was a done deal,” another source told AFP. “Now the task is how do we look ahead, how do we work under the second Mod…