Source: Crowell & Moring LLP
President Trump indicated in a press release from the USTR that he intends to remove India and Turkey from the list of Generalized System of Preferences (GSP) eligible countries. GSP provides reduced tariff rates for certain products from certain developing and least developed countries.
In the case of India, the removal is a response to India’s alleged failure to provide market access assurances, whereas in the case of Turkey the removal is predicated on a finding that Turkey is at a sufficiently high level of economic development that continued treatment as a developing country is unwarranted.
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