states: As of June 5th, India will be terminated from its designation as a beneficiary developing country, according to CNN. The move adds one more front to Trump's global trade wars. I have determined that India has not assured the United States that India will provide equitable and reasonable access to its markets, President Donald Trump said in a proclamation issued by the White House. It comes as Trump took new aim at Mexico this week with threatened tariffs if the country does not step up its immigration enforcement actions. India will be removed from the preferential trade program, known as the Generalized System of Preferences, which gives developing countries easier access to the US market and lowers US duties on their exports. The President has also promised new levies on China amid an impasse in negotiations over a renewed trade deal, and is considering a ban on foreign auto imports.
(news.financializer.com). As
reported in the news.
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