NEW DELHI: The US may wait until a new government takes charge in New Delhi before it takes a call on withdrawing duty-free benefits to Indian exporters, or consider further negotiation on the issue. The Donald Trump administration had decided to withdraw the generalised system of preferences (GSP) benefits worth $5.6 billion to Indian exporters in March. However, it did not implement the decision through a Presidential proclamation after the 60-day deadline ended on 2 May. Ross is in India to attend the 11th Trade Winds Business Forum and Mission hosted by the US Department of Commerce. Highlighting the alleged high tariff rates in India, Ross said India’s average applied tariff rate of 13.8% remains the highest in any major world economy.

Source: Mint May 07, 2019 18:33 UTC