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India has asked the Office of the U.S. Trade Representative to further delay the termination of preferential benefits the country receives via the Generalized System of Preferences, a request that has been deferred to higher levels, a source told Inside U.S. Trade, confirming an outside report.
Sens. John Cornyn (R-TX) and Mark Warner (D-VA), co-chairs of the Senate India Caucus, on Friday called on the Trump administration to delay withdrawing India’s Generalized System of Preferences benefits.
“Provide Congress time to work with the administration and ensure the decisions match both the letter and the spirit of the GSP law.”
Tariffs were slated to take effect on April 1 but are now slated to kick in on May 2.
While India-focused business groups are hoping the U.S. and India can come to an agreement before the U.S. terminates India’s benefits under the Generalized System of Preferences, analysts see little chance of a deal in the next 60 days.
“We are reserving our right to drag the U.S. to the WTO.”
Senate Finance Chairman Chuck Grassley (R-IA) on Tuesday said the administration decided to terminate India’s preferential trade treatment under the Generalized System of Preferences because New Delhi “hasn’t engaged enough” on market-access issues.
The U.S. plans to end the preferential trade treatment afforded to India and Turkey under the Generalized System of Preferences, the Office of the U.S. Trade Representative said on Monday.
USTR's Special 301 subcommittee will hold a public hearing this week.
The U.S. and Canada are accusing India of exceeding its World Trade Organization limits on market price support for a handful of agricultural products, the two countries said in a counter-notification filed on Tuesday.
The Office of the U.S. Trade Representative could suspend India's Generalized System of Preferences benefits as soon as this month, further complicating prospects for a U.S.-India trade deal, according to reports and sources familiar with bilateral talks.
U.S. and Indian officials are continuing to discuss a range of trade issues with an eye toward some type of agreement following India's upcoming elections, though an official U.S.-India Trade Policy Forum meeting remains unscheduled, according to sources.
The U.S. and other World Trade Organization members this week raised numerous concerns with India' domestic support for agriculture, which India called flawed and untrue.
Trade ministers who gathered in Singapore on Monday were unable to finalize a deal and are now eyeing 2019. India's concerns are still seen as a primary obstacle.
India has continued to delay imposing retaliatory tariffs as it is engaged in trade discussions with the U.S.
The U.S.-India Trade Policy Forum, slated for this week, has been delayed as trade talks between the two countries have failed to generate enough momentum to justify a tentative plan for U.S. Trade Representative Robert Lighthizer to travel to New Delhi, sources told Inside U.S. Trade.
An arbitrator's decision is set for October, with a compliance panel report set to be released in December.
Doud said NAFTA talks with Mexico were “going as well as we can possibly expect right now,” while there had been no “market access conversations with Canada of any substance.”