Carli Valinoti, Express Trade Capital
On May 31, 2019, President Trump issued a proclamation announcing the termination of India as a beneficiary developing country. The decision comes as a result of the fact that, according to the President, India has not assured the United States that it will provide equitable and reasonable access to its markets as well as refrain from engaging in unreasonable export practices.
Among other things, this means that US imports from India entered for consumption or withdrawn from warehouse for consumption, will no longer be eligible for preferential duty treatment under the Generalized System of Preferences as of June 5.
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