Slumping India’s trade privilege could hit US consumers, says senator

Trump Administration’s retaliatory plan to conclude the preferential duty-free imports of up to 5.6 billion worth of Indian goods, a privilege widely known as GSP (Generalized System of Preferences), could raise costs of Indian goods for American customers, two US Senator had stated in US trade office, urging for further consideration before adopting such policies and a delay to seek more negotiations. Since trade relationships between India and United States had been forging ahead to another front of tit-for-tat tariff abrasions amid a wide-scale differences between the policies of US President Donald Trump and the Indian government of PM Narendra Modi, the prospects of retaliatory tariffs had been emerging.