A Presidential Proclamation dated May 31, 2019 has terminated India’s participation in the U.S. Generalized System of Preferences (GSP). The President stated that “India has not assured the United States that India will provide equitable and reasonable access to its markets. Accordingly, it is appropriate to terminate India’s designation as a beneficiary developing country effective June 5, 2019”.
India’s products that have been imported and entered duty free under the GSP program will be assessed the General – Column 1 of the U.S. Harmonized Tariff Schedule on June 5, 2019. India was ranked as the top US GSP beneficiary country.
A statement from India’s Ministry of Commerce & Industry can be accessed here: http://pib.nic.in/PressReleseDetail.aspx?PRID=1573061
Turkey had also lost its GSP benefits as of May 17, 2019.
