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 South partners with Emirates NBD to support business community
DIFC to become world’s first AI Native financial centre
AB Foods to split Primark from its food businesses
Apple turns to hardware veteran Ternus as CEO to succeed Cook in AI age
UAE welcomes Libya's unified budget agreement
