U.S. may end zero-tariffs for India

The administration of President Donald Trump is reported to be looking at ending zero tariff concessions to some Indian products under the Generalised System of Preferences (GSP) in a bid to force India change its trade and investment policies. Such a move could adversely affect $5.6 billion worth of concessional exports from India to the US, vitiating an already bumpy trade relation between the two countries.India is currently the largest beneficiary of beneficiary of the scheme that has been in force since the 1970s and President Trump could opt to end the GSP benefits to India as a tit-for-tat to India’s decision to plug loopholes in its foreign investment rules for retail and e-commerce firms.