Any retaliatory tariff by India in response to the United States’ planned withdrawal of some trade privileges will not be “appropriate” under WTO rules, U.S. Commerce Secretary Wilbur Ross warned on Tuesday. The comments, made to broadcaster CNBC-TV18 during a trip to India’s capital, come as trade ties between the United States and China worsen. The United States is India’s second-biggest trade partner after China. India is the biggest beneficiary of the GSP, which allows preferential duty-free imports of up to $5.6 billion from the South Asian nation. “As President Trump has said, trade relationships should be based, and must be based, on fairness and reciprocity,” Ross added.

Source: Hindustan Times May 07, 2019 12:22 UTC