The U.S. Trade Representative has announced that India and Turkey will lose their GSP status after a 60 day period as they no longer comply with the program’s criteria. The Generalized System of Preferences provides duty free treatment for certain products for beneficiary developing counties.
The USTR’s announcement states that India has failed to provide the U.S. with assurances that it will provide equitable and reasonable access to its markets in numerous sectors. Because India has implemented multiple trade barriers that negatively affect U.S. Commerce, it has failed to meet GSP criteria and will be removed from the program.
Turkey’s GSP status is being terminated as the country is sufficiently economically developed and no longer needs to benefit from preferential tariff treatment in the U.S. market.
These changes will not take effect until 60 days after notifications to Congress and the governments of India and Turkey. We will send a further update once the termination date has been established.