• Thursday, July 9, 2020

Trump imposes a $260 million penalty on India on the eve of his visit

Discussion in 'World Affairs' started by Dil_Pakistan, Feb 16, 2020.

  1. Dil_Pakistan

    Dil_Pakistan FULL MEMBER

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    Trump imposes a $260 million penalty on India on the eve of his visit
    This move is not just about loss of $260 million in GSP benefits but also about how many lakhs jobs could be lost in specific industries when the economy is facing growing unemployment and stagflation

    Former BJP ally Shiv Sena slammed the move by the US to take India off the list of developing nations. In its mouthpiece, Saamana, the party said, "All the subsidies and benefits which India was getting would not be there now. Whenever a guest visits, he brings some gifts as a token of love, but President Trump broke the tradition. While India is preparing itself to welcome Trump, America has removed India from the list of developing countries. This is a big blow to our economy. With India on the list of developing countries, there used to be subsidies and tax benefits. Now, there will be nothing."

    On February 10, 2020, the US removed India among some others from its list of developing countries that are exempt from investigations into whether they harm American industry with unjust subsidised exports. The US eliminated its special preferences for a list of self-declared developing countries that includes India. The Generalized System of Preferences (GSP) is America’s oldest preferential trade scheme, which offered Indian exporters tariff-free access. This move by the US to take off India from the list of developing nations is expected to stop all chances of India reclaiming its benefits under the GSP scheme.

    According to the data from the United States Trade Representative's (USTR) office, India is the largest beneficiary nation under the GSP, with total benefits from tariff exemptions amounting to $260 million in 2018.

    https://www.nationalheraldindia.com...lion-penalty-on-india-on-the-eve-of-his-visit

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    :lol::lol::lol:
     
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  2. waz

    waz SENIOR MODERATOR

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    Howdy India, Trump is coming to layout his terms.
     
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  3. PakSword

    PakSword MODERATOR

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    I think its a pressure tactic. Trump will take it back and tell Indians how much he cares for them. After that he will get too many exemptions on import tariffs on US items.
     
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  4. War Thunder

    War Thunder SENIOR MEMBER

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    As they said. US clearly knows it was backing the wrong horse and events in 2019 made it pretty clear to them.
     
  5. Dr. Strangelove

    Dr. Strangelove SENIOR MEMBER

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    Trump is coming to milk the cow as much as he can. This is just an opening salvo.
     
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  6. Dalit

    Dalit ELITE MEMBER

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    You just got to love this man LOL
     
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  7. waz

    waz SENIOR MODERATOR

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    No it's not and you should look at how he's being conducted his affairs.
     
  8. Path-Finder

    Path-Finder ELITE MEMBER

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    but they will counter with multi billion in arms purchase. problem solved.
     
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  9. Whirling_dervesh

    Whirling_dervesh FULL MEMBER

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    Chawwal khatris
     
  10. PakSword

    PakSword MODERATOR

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    I don't know, I will wait for a few months to believe it.

    If I am correct, it was the same US that gave exemption to India on Iranian oil imports and development and utilization of Chahbahar port in the past.
     
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  11. Rafale+Meteor+Spectra

    Rafale+Meteor+Spectra FULL MEMBER

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    100% fake news.
    Source is official newpsaper of Congress Party.:lol::lol:

    Trump removed India's GSP status more than a year back and it has had Zero impact on Indian exports to US since Indian exports are more than 40 billion whereas benefits were worth a mere 200 million.
     
  12. Samlee

    Samlee SENIOR MEMBER

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    The Way India Has Been Treating Amazon and Walmart Recently What Else Could You Expect.

    If Our Government Had Any Brains They Would Have Started A Lobbying/Media Campaign To Instigate Prez Trump To Start A China Style Trade War
     
  13. PakSword

    PakSword MODERATOR

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    I think US will not go against India anytime soon.. They want a country to keep a check on China, and India is the perfect candidate.

    But lets wait for a few months. Trump is a businessman who doesn't let any opportunity go away..
     
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  14. Alternatiiv

    Alternatiiv SENIOR MEMBER

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    Source.
     
  15. Pandora

    Pandora SENIOR MEMBER

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    And India is spending 100 Crore for his visit :rofl: just in delhi baki koe hisaab kitaab nae. Trump sae takra hai inko defense deals bi lay lien, royal welcome bi karwa liya, 260 million ka fine thoak kar Kutay wali bi kar di.
     
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