US President Donald Trump said he intends to end preferential trade terms for India under the US’ Generalised System of Preferences (GSP) programme.
"I am taking this step because, after intensive engagement between the United States and the Government of India, I have determined that India has not assured the United States that it will provide equitable and reasonable access to the markets of India..." Trump said in a letter to congressional leaders.
The programme currently allows $5.6 billion worth of Indian exports to enter the United States duty free.
This comes after India unveiled new e-commerce rules that restrict Amazon.com Inc and Walmart Inc-backed Flipkart from doing business.
Dubai Investments to list DIP Holding shares on Dubai Financial Market
UAE delegation explores energy and transport partnerships in China
Dubai, China sign MoU to develop gold and jewellery trade
H.H. Sheikh Hamdan praises DIEZ's AED 246 billion value performance in H1
UAE signs agreement to host 2029 World Bank Group, IMF Annual Meetings
