In a move to counter what he calls “unfair trade practices”, US president Donald Trump says that goods from India will be no longer eligible for preferential, tariff-free access to the US market. Remember, he had earlier called India a “very high tariff nation”. India was the largest beneficiary of the Generalised System of Preferences program in 2017 and has been exporting $5.6B worth of goods to the U.S. duty-free, is avoiding retaliatory trade talks. India’s commerce secretary said today that the US decision is not worrisome from an economic standpoint. How will this GSP ineligibility impact India’s trade with the US? Should India impose retaliatory tariffs? Is the world turning protectionist? Taneia Bhardwaj discusses all these and more at this India Development Debate.
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