US law requires the administration to wait 60 days after it notifies Congress of the move before it formally ends India’s participation in the programme. “There is every reason to believe that GSP suspension will move forward,” the official told reporters, speaking on condition of anonymity. “What is important is that the interest is to resolve trade irritants – to ensure fair and equitable market access,” the official added. But the official said the benefits could be restored if India gave US companies fair and equitable access to its markets. Twenty-four US members of Congress sent the administration a letter on May 3 urging it not to terminate India’s access to the GSP.

Source: bd News24 June 09, 2019 14:03 UTC