Trump, who has vowed to reduce US trade deficits, has repeatedly called out India for its high tariffs. "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 US goods and services trade deficit with India was $27.3 billion in 2017, according to the US Trade Representative's Office. India is the world's largest beneficiary of the GSP program and ending its participation would be the strongest punitive action against India sinceTrump took office in 2017. US-India trade ties were hurt after India unveiled new rules on e-commerce that restrict the way Amazon.com Inc and Walmart Inc-backed Flipkart do business.

Source: bd News24 March 05, 2019 02:26 UTC