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khalilhumam · 4 years

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US Trade Policy Shouldn’t Pit Developing Countries Against Each Other

New Post has been published on http://khalilhumam.com/us-trade-policy-shouldnt-pit-developing-countries-against-each-other/

US Trade Policy Shouldn’t Pit Developing Countries Against Each Other

This blog post originally appeared on World Politics Review. The global economy is gradually healing from the economic blows dealt by the coronavirus pandemic, but the recovery remains fragile and halting. Reduced trade is more a symptom than a cause of those trends—and what governments do in terms of additional fiscal stimulus will do far more to determine the shape of the recovery in the United States and other countries. Still, trade policy could be a factor, supporting or undermining the nascent recovery. President Donald Trump’s trade wars have already complicated the direct response to COVID-19 infections—by making imports of some critical products more expensive or harder to find—and made the road to recovery steeper. If the House of Representatives passes a bipartisan resolution currently under consideration that opposes tariff exemptions to developing countries in certain sectors, it would be another sign that the United States is moving in the wrong direction. Generalized System of Preferences programs were adopted in most rich countries in the 1970s—and more recently in major emerging markets such as China and India—to encourage trade and support industrialization and job creation in developing countries. These so-called GSP programs allow designated imports from eligible developing countries to enter without payment of the normal tariff. Almost all of them have weaknesses, however, that undermine their effectiveness, such as exclusions in key sectors or rules of origin for determining product eligibility with which poorer countries struggle to comply. The US GSP has long been one of the least generous and has become relatively less so over time. Now, with much of the world—and developing countries in particular—facing high unemployment and struggling to recover from the economic as well as health effects of the coronavirus, some in Congress want to lock in that miserliness. From the beginning, Congress statutorily excluded certain “sensitive” products from eligibility, including the clothing and footwear sectors, where many developing countries have a comparative advantage. Not coincidentally, those are also products for which trade preferences are particularly valuable because they face relatively high tariffs when entering the American market. When Congress passed legislation extending the GSP program in 2015, it authorized the president to grant eligibility for previously excluded textile and leather products, including handbags and luggage. Now, as the House faces a year-end deadline to once again authorize continuation of the GSP program, Democratic Reps. Albio Sires, Adriano Espaillat, and Karen Bass, along with Republican Rep. Mario Diaz-Balart, have introduced a resolution to get the House on the record opposing any extension of these benefits to textiles, clothing, or footwear. In introducing the resolution, the bipartisan sponsors are in effect lining up with the National Council of Textile Organizations in a policy debate that pits some developing countries against others. Mexico, Central America, Haiti, and a handful of countries in South America—along with a number of sub-Saharan African countries—are already accorded at least some duty-free access for their clothing and footwear exports under existing bilateral trade agreements or special, regional preference programs. With encouragement from the textile industry association, these countries are opposing the expansion of tariff exemptions to other countries because it could increase competition and erode the benefits of preferential access they currently enjoy. Their preferential access under these arrangements, however, is conditional. To be eligible for them, Western Hemisphere exporters typically have to meet onerous rules of origin that force them to use American textiles and other inputs in the clothing they produce for export. African countries exporting preferentially under the African Growth and Opportunity Act have an exemption allowing them to import fabric and other inputs from whatever source is most efficient. That was necessary for the program to work because the transportation and other costs involved in having to use US inputs would be prohibitive. The American textile industry accepts this carve-out because African exports are not significant enough to pose a threat, and the visible support to exporters from poorer African countries serves as useful cover for the industry’s underlying protectionist stance. The congressional resolution’s sponsors are genuinely concerned about the potential impact that generalized exemptions could have on trade partners in Latin America and Africa. But instead of opposing them across the board, they should explore alternatives that could shield these countries while improving access to the U.S. market for other low income countries. One such compromise solution would be to provide additional benefits only to United Nations-designated “least developed countries,” as other rich countries—notably Canada and the European Union—have done. To further protect current beneficiaries from “preference erosion,” such an expansion might exclude selected textile or apparel items on which African and Latin American expoters are particularly dependent. Congress might also choose to limit new benefits in sensitive sectors to countries that are deemed particularly vulnerable and meet certain conditions in terms of protecting workers’ rights and the environment, as the EU does with its GSP+ program. Or, as proposed in a recent Center for Global Development paper, improved access in sensitive sectors might be granted to vulnerable countries hosting large numbers of refugees and agreeing to grant them legal rights to employment. Worldwide, the poor within and across countries are disproportionately feeling the economic effects of the coronavirus pandemic. Governments in developing countries typically have far less fiscal space to mitigate the costs for the most vulnerable. Expanded trade preferences are a way to support developing countries while also lowering costs for American consumers and manufacturers. Congress should not take that possibility off the table.

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inconel718-blog · 5 years

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monicasharmalove · 5 years

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US suspension of trade programme with India 'a done deal', says US official

Economy News

The suspension of a U.S. trade preference program with India is a "done deal," a senior State Department official said on Thursday as Prime Minister Narendra Modi began his second term.

President Donald Trump announced in March he would end India's access to the decades-old Generalized System of Preferences (GSP) trade program over what the U.S. said was lack of access to India's market. The program allows emerging countries to export goods to the United States without paying duties.U.S. law requires the administration to wait 60 days after it notifies Congress of the move before it formally ends India's participation in the program. Trump notified Congress of the move in early March.

"There is every reason to believe that GSP suspension will move forward," the official told reporters, speaking on condition of anonymity. "What is important is that the interest is to resolve trade irritants - to ensure fair and equitable market access," the official added.But the official said the benefits could be restored if India gave U.S. companies fair and equitable access to its markets.

"We need to be looking forward at how we relaunch an ambitious set of discussions between our trade teams in order to address these outstanding irritants," the official said."We believe if India is prepared to address policies, including data localization, e-commerce measures that served to stifle international investment for top-tier companies, that we can continue to make significant progress moving forward," the official added.

India is the world's largest beneficiary of GSP, which dates from the 1970s, and ending its participation would not only be the strongest punitive action against the country since Trump took office, but would also open a new front in the global trade war.Twenty-four U.S. members of Congress sent the administration a letter on May 3 urging it not to terminate India's access to the GSP.(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

#GSP #Trade war #India #India-US trade #Borough of Swindon #Wroughton

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korrasamiisstillcanon-blog · 5 years

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Important International News

In this, we have given important international news of March 2019. This is very important for all competitive examinations like UPSC, SSC, RRB, and all PSC examinations.

International news

UNSC has named Hamza bin Laden under its ban list

The United Nations Security Council has named Hamza bin Laden under its ban list. The son of former al-Qaeda leader Osama bin Laden is now under the travel ban, property freeze, and a weapon Embargo.

The US President has asked China to immediately remove all charges on American agricultural products.

US President Donald Trump has asked China to immediately remove all charges on US agricultural products.

The US bans new ban on Venezuela

The US has imposed new sanctions on Venezuela. A day after the sanctions, Russia and China canceled an American and European proposal in the United Nations Security Council, which had called for assistance without assistance.

America wants information on Pakistan's possible misuse of American-made F-16

In the violation of the US-end-user agreement, India is seeking information on possible misuse of US-made F-16 fighter jets against Pakistan.

France reiterated its full solidarity with India in the fight against terrorism

France has reiterated its complete solidarity with India in its fight against terrorism in all its forms.

Pakistan restores the Samjhauta Express to Delhi

After the suspension of the train due to stressful bilateral relations, Pakistan restored the compromised express services between Lahore and Delhi.

Israel, Russia cooperated with Syria to help foreign powers

Israel's Prime Minister Benjamin Netanyahu said that his country and Russia would form a joint team to investigate the return of foreign powers from Syria.

Syria participates in the first Arab meeting after 2011

After the conflict began in 2011, Syria participated in a meeting of Arab states for the first time. The UAE has already reopened its embassy in Damascus in December.

France reiterates support for India's permanent seat at the United Nations Security Council

France has reiterated its support for India as a permanent member of the UN Security Council (UNSC). France, who assumed the UNSC's March Presidency, reiterated its support as permanent members of an extended council for India, Germany, and Japan.

America officially closes the Jerusalem Consulate

The United States has officially closed its consulate in Jerusalem, changing the status of its main diplomatic mission to Palestinians into the American Embassy in Israel.

Russia suspends participation in the Intermediate-Range Nuclear Treaty with the United States

Russian President Vladimir Putin has officially suspended the country's involvement in a major Cold War-era nuclear weapons-treaty with the United States.

Officials of Nepal Government include INGAF training course in New Delhi

The third group of 22 officers of Nepal's Ministry of Finance joined the training program on the global perspective on public financial management in the Institute of Government Accounts and Finance (INGAF) in New Delhi.

This training is being organized under the Indian Technical and Economic Cooperation (ITEC) program of the Ministry of External Affairs.

Washington's decision to remove India from GSP list

Commerce Secretary Anup Wadhawan said that the US decision to withdraw the name from the US General System of Preferences (GSP) list will not have any significant impact on the country's exports of $ 5.6 billion. The economic value of GSP benefits is very moderate.

China decides to expand anti-smug measures

China has decided to expand anti-smog measures for a third consecutive winter to reduce pollution levels. The Ministry of Environment and Environment vowed to eliminate the small coal-based heating boilers in major areas.

Jamaat-ud-Dawa, led by Hafiz Saeed, has been placed in the list of prohibited organizations

Jamaat-ud-Dawa, led by Mastermind Hafiz Saeed of the Mumbai terror attack and his Wing Falah-e-Insaniat Foundation, has been formally listed on the list of organizations prohibited by Pakistan.

Two Nobel Prizes for Literature will be provided this year

The Swedish Academy has said that this year two Nobel Prizes will be given for literature. WHO unveils extensive reforms towards triple billion target

The World Health Organization (WHO) has announced the most comprehensive reforms in the organization's history to modernize and strengthen the institution in order to play its role as a public authority on public health more efficiently and efficiently.

These include one billion more people benefiting from universal health coverage (UHC), more than one billion people are better protected from health emergencies, And one billion more people are enjoying better health and welfare.

EU continues to work with Iran to promote peace, stability

The European Union will continue to cooperate with Iran for peace and stability in the Middle East region and around the world. After withdrawing from the United States Comprehensive Action Plan (JCPOA), US sanctions against Tehran were restored in 2018, in return for the promise of peaceful sanctions against Tehran in exchange for a pledge to keep Iran's nuclear program peaceful Was provided for.

The new law allows Russian MPs to penalize online media outlets

Russian lawmakers have approved a law, under which officials will now be able to fix or block online media outlets to publish news that they consider being fake. The lower house of the Russian parliament voted in favor of the bill. Websites that fail to comply will be blocked and the penalty can reach the US $ 22,700 if the violation leads to serious consequences such as death or riot.

OECD cuts forecasts of global growth in the trade breaks uncertainty

The organization for economic co-operation and development, OECD has again cut the forecast of 2019 for global economic growth due to the continued trade tension and breaks uncertainty. The OECD reduced its forecast to 3.3 percent this year, which was below the estimated 3.5 percent in November. It warned that trade tensions, including the brain and political uncertainty, are burdening the world economy.

The OECD, which is a group of the world's top developed economies, revises growth projections in almost all countries of the G20 group of industrial and emerging countries.

The US revises visa policy for Pakistan

The US has amended its policy of decreasing the visa validity for Pakistani nationals from five years to one year. Journalists and media workers will not be allowed to stay in the country for more than three months without renewing the travel permit. Pakistan also issues US journalists three months' visas.

EU veto plans to add Saudi Arabia to refund list

The messengers of the 28 member countries of the European Union unanimously rejected a European Commission proposal to link Saudi Arabia and other countries to the Black Money-Laundering Blacklist.

Indian envoys returned to Islamabad in Pakistan

Ministry of External Affairs (MEA) has said, India's High Commissioner to India Ajay Bisaria will return to Islamabad.

Sri Lankan government has introduced plans for women coaches in trains

The Sri Lankan Government launched a scheme for special dedicated women coaches in trains to mark the International Women's Day. Women are the only purpose of 'coaches' with the aim of preventing sexual harassment and difficulty by women using public transport.

According to a study conducted by the United Nations Population Fund (UNFPA), 90 percent of women and girls in Sri Lanka have suffered sexual harassment at least once during their lifetime in public buses and trains. However, only four percent of the affected people reported the incident to the police.

Finland government resigns on failed reforms

Finnish Prime Minister Juhoe Sipila's Center-Government resigned just five weeks before parliamentary elections. The resignation came after the government failed to push through a major social and health care reform package.

116-year-old Japanese woman officially named the oldest person

116-year-old Japanese woman Ken Tanaka has been honored as the world's oldest living person by Guinness World Records. The oldest living person was also a Japanese woman, Chio Miyako, who died in July last year, whose age was 117 years.

North Korea preparing missile launch, will recommend satellite image

In North Korea, satellite images of a facility near Pyongyang show that the country is preparing to launch a missile or a satellite.

China opposes American criticism of policies on religion

China opposed the United States to criticize Beijing's politics of Muslims and Tibetan Buddhist minorities and said that the country was in war with confidence.

China, US reach consensus on many major issues

China and the United States have reached consensus on several key issues including exchange rates during the latest round of talks to negotiate a comprehensive trade deal in Washington.

North Korean voted to elect the rubber-stamp parliament

North Korean people are voting today to elect the country's rubber-stamp parliament, Kim Jong-ho is the second election after coming to power.

Voting is mandatory for the Supreme People's Assembly and candidates have no choice. Polling is always close to 100 percent and approval for the governing coalition is unanimous. On election day, the entire population of 17 years or more should vote out and vote.

After Ethiopian Airlines crash, Britain became the latest to ban Boeing 737 Max 8 Jet

After the United Kingdom Ethiopian plane crash, Boeing 737 Max 8 has become the latest country to operate or operate in the national airspace. In the grounding of the aircraft, the UK has joined the growing list of countries including Malaysia, Singapore, China, Australia, and Ethiopia.

United Nations warns Bangladesh of a new crisis on Rohingya rehabilitation scheme

The UN has warned Bangladesh of a new crisis if the country moves forward with a plan to save 23,000 Rohingyas from four cyclones along with a desert island next month. More than seven lakh Rohingya are in captivity in crowded camps in Bangladesh.

America will withdraw its remaining diplomatic staff from the Embassy in Caracas

The United States has decided to withdraw its remaining diplomatic staff from the Embassy in Caracas as the crisis in Venezuela is increasing.

UN urges Sri Lanka to set up a Hybrid Court

The United Nations has requested Sri Lanka to set up a hybrid court comprising international judges, lawyers, and investigators to investigate allegations of war crimes during the three-decade-long LTTE war.

India and US are asking Pakistan to take action to eliminate the terrorist infrastructure

India and the United States have agreed that there is a need to take concrete action to eliminate Pakistan's terrorist structure and to deprive all terrorist groups operating in its area from safe havens.

New Zealand banned Boeing 737 Max planes

New Zealand has announced grounding of its Boeing 737 Max aircraft from its airspace in the wake of a fatal plane crash in Ethiopia. The country's civil aviation authority (CAA) said it was making a temporary suspension after consultation with other regulators.

India provided 200 Golden Jubilee scholarships

Indian Embassy in Nepal honored 200 Golden Jubilee scholarships by meritorious Nepali students for continuing various graduate courses in colleges and universities. These scholarships are part of efforts to support human resource development in Nepal for the overall socio-economic development of the Himalayan nation and its people.

The United States will set up six nuclear power plants in India

India and the United States are committed to strengthening bilateral security and civil nuclear cooperation, including the establishment of six US nuclear power plants in India.

US Senate voted to end support for Yemen war

The US Senate voted Donald Trump's foreign policy and his alliance with Riyadh to end support for a bloody Saudi-led war in Yemen.

Boeing 737 Max recommends a temporary suspension of the entire fleet of its fleet

One of the largest global aircraft manufacturer Boeing has recommended the temporary suspension of its entire fleet of 737 Max aircraft.

This move came after several countries including India, China, European Union, and the United States, who banned the use of the aircraft in the wake of the Ethiopian Airlines crash, killing all 157 people..

The United States pulls China out of its human rights violations

The United States blamed China for violating human rights in the country.

To continue the efforts of India, Masood Azhar will be listed under the United Nations 1267 sanctions

New Delhi will continue to make concerted efforts to ensure that JM chief Masood Azhar is listed under the United Nations 1267 sanctions. Of the 15, 14 members of the UN Security Council are supporting India to list Masood Azhar as a global terrorist.

Open the door to bring serious trade proposals to India: the US

The United States has said that if India is prepared to bring a serious proposal to address issues related to trade and market access, then the door is open.

2019 Slovakia presidential election

The presidential election of Slovakia is going to be held in two rounds on March 16 and 30, 2019. This is the fifth direct election of the president in the history of Slovakia.

Russia has its officials against the new Western sanctions imposed

Russia has rejected new Western sanctions against its officials over its role in a naval collision with Ukraine last year. The United States, Canada, and the European Union put new restrictions on more than a dozen Russian officials and businesses in Moscow in response to Moscow's alleged offensive in Ukraine.

Cyclone IdiI affects more than 1.5 million people in three South African countries

Mozambique, Zimbabwe, and Malawi have been hit by a vicious cycle, in which about 150 people have been killed, hundreds are missing and trapped in tens.

According to the United Nations and government officials, cyclone Idai has affected over 1.5 million people in three South African countries.

We update daily current gk , current affairs , current affairs for upsc, current affairs for all other examination , current gk , short tricks of current affairs , current gk .

United Nations patent data shows a boom in Asia innovations

The United Nations said that more than half of all international patent applications filed last year came from Asia, another sign of innovation was shifting from west to east.

The US remains a leading private country for applications in 2018. India registered the biggest innovation jump of any country last year. In 2017, patent applications from 1,583 to 2,013 leaped more than 27 percent.

China declares Mumbai terrorist attacks as the most notorious

China has described the Mumbai attacks in 2008 by Pakistan-based Lashkar-e-Taiba (LeT) as one of the most notorious terrorist attacks in the terrorist attacks.

Jagmeet of Indian origin created history, entered Canadian Parliament

Jagmeet Singh of Indian origin has made history in Canada when he debuted as the first non-white leader of the country's main opposition party in the House of Commons.

The President of Kazakhstan resigned after almost 30 years in power

Kazakhstan's President Nursultan Nazarbayev has announced his resignation after nearly 30 years in power. The 78-year-old leader had ruled the country since the fall of the Soviet Union in the early 1990s.

Name of Kazakhstan to change the name of the country's capital, Astana, to keep the nurses

After the resignation of the President of Kazakhstan for a long time, the decision to change the name of the country's capital, Astana, in the honor of the ruler, Nursultan Nazarbayev, is to change the name of Australian.

Kazakhstan's new interim President Cassim-Jomart Tokayov proposed to change the name of the capital. In 1997, Astana changed Kazakhstan's biggest city to Almaty as the capital.

Neerav Modi arrested in London

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European Parliament adopts controversial copyright reforms

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aditimehta236-blog · 6 years

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Explained: Impact of Donald Trump's attack on preferential trade with India

The commerce ministry has shrugged off concerns that it will have any major economic impact, noting that total benefits amount to roughly $190 million on overall exports of $5.6 billion

Current Affairs :

Joined States president Donald Trump on Tuesday reported an arrangement to end particular exchange treatment for India, pulling back advantages under an almost 50-year-old program for up to $5.6 billion worth of New Delhi's fares to America.

The move comes after over a time of forward and backward between the two nations, and weight applied upon the Trump organization by the American dairy fare and restorative gadgets anterooms.

"I am making this stride on the grounds that, after concentrated commitment between the United States and the administration of India, I have verified that India has not guaranteed the United States that it will give evenhanded and sensible access to the business sectors of India," Trump said in a letter to Congress delegates on Tuesday early morning.

As indicated by World Bank information, India is at present the biggest recipient of the 'summed up arrangement of inclinations' (GSP) program, an exchange activity that was first begun, thinking back to the 1970s.

India's trade service, be that as it may, has made light of the effect of the move, saying that withdrawal of GSP advantages will have an "insignificant and moderate effect".

"The all out GSP benefits add up to about $190 million on generally speaking fares of $5.6 billion between the two nations," business secretary Anup Wadhawan said at a public interview on Tuesday morning.

"We had worked out a significant bundle that secured the US' concerns yet they made extra demands which were not satisfactory right now," he included. "The GSP framework is visualized as a non-equal advantage to creating nations."

How did US-India financial strains achieve this point? How representative is this move? The Wire separates it.

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omgstupendousbouquetbasement · 6 years

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US to End Preferential Trade Status for India, Turkey

At President Donald Trump's direction, the United States intends to scrap the preferential trade status granted to India and Turkey, officials said Monday. Washington "intends to terminate India's and Turkey's designations as beneficiary developing countries under the Generalized System of Preferences (GSP) program because they no longer comply with the statutory eligibility criteria," the U.S. Trade Representative's Office said in a statement. India has failed to provide assurances that it would allow required market access, while Turkey is "sufficiently economically developed" that it no longer qualifies, USTR added. Under the GSP program, "certain products" can enter the US duty-free if countries meet eligibility criteria including "providing the United States with equitable and reasonable market access." India, however, "has implemented a wide array of trade barriers that create serious negative effects on United States commerce," the statement said. Turkey, after being designated a GSP beneficiary in 1975, has meanwhile demonstrated a "higher level of economic development," meaning that it can be "graduated" from the program, according to USTR. from Blogger https://ift.tt/2NHLX0w via IFTTT

#IFTTT #Blogger

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ssbprep · 5 years

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US Investment Diplomacy and India’s Preferential Trade Status

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On June 5, 2019, the United States terminated India’s designation as a beneficiary developing country under the Generalized System of Preference (GSP) trade program. This means that nearly 2,000 products, including auto products and textiles, and up to $5.6 billion in Indian exports can no longer enter the United States duty-free.

What are the broader effects of this move, and…

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whittlebaggett8 · 5 years

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India’s Loss of GSP Status Is a Diplomatic, Not an Economic, Setback

The inability to avert the conclusion of the preferential trade standing calls into query New Delhi’s robust bilateral ties with Washington.

By Priyanka Pandit for The Diplomat

June 15, 2019

Because the Trump administration’s determination to revoke India’s position as a beneficiary country below the Generalized Program of Choices (GSP) plan in March, dialogue close to the deserves and weaknesses of just one-way preferential trade therapy granted by produced international locations to developing nations has been rekindled. The shift which aimed to redress India’s unfair trade techniques is anticipated to impact India’s yearly gains of $190 million from the exports worthy of $5.6 billion under the GSP category. Whilst the Indian aspect has referred to the effect as “modest,” the unexpected withdrawal of this unilateral, non-reciprocal privilege is very likely to harm little and medium sized corporations in sectors like jewellery, agriculture, car components, pharmaceuticals, chemicals, plastics, and some others. These corporations will discover it tricky to endure selling price-based competitors owing to the supply of identical solutions from other building nations around the world to American markets at more affordable rates.

The U.S. GSP software with its origins in Trade Act of 1974 is regarded as to be one of the crucial exceptions providing non-reciprocal trade tastes to particular solutions from designated beneficiary developing international locations (BDCs).The tastes are primarily in the sort of obligation-cost-free tariffs or concessional tariffs extended to far more than 3,500 products from about 121 developing nations around the world, which permits entry to U.S. markets. India, staying one particular of the premier beneficiaries of the GSP scheme, has liked zero-tariff position on all-around 2,000 products and solutions, with the maximum revenue accrued in 2017. As for every the 2018 reports by the U.S. Trade and Tariff DataWeb, vehicle cars and other engineering products from India grew to become the most significant item in the GSP group followed by gems, jewelry, organic chemical compounds and plastics.

Whilst the GSP was proposed to be non-reciprocal and non-conditional in character except the four eligibility demands for the beneficiary status, the U.S. Trade and Tariff Act of 1984 released certain revisions, altering the spirit of the GSP scheme. The changes included harder reciprocal conditions which expected the BDCs to reform particular domestic financial insurance policies. In specific, the conditions relating to the defense of intellectual residence rights and reduction of trade distorting financial commitment methods became the controversial foremost to the withdrawal of GSP standing of a number of BDCs by the U.S. governing administration. India and Turkey are the most up-to-date facing the brunt of these conditionality provisions.

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In the Indian scenario, the increase in tariffs and personalized duties on imports, particularly in sectors of prescribed drugs has triggered good resentment between U.S. firms which lobbed calls of “unfair trade practices” against India. When marketplace access linked allegations type the core foundation for Washington examining and sooner or later revoking India’s GSP standing, there are numerous new difficulties at participate in as properly.

In current decades, India has strongly opposed the U.S.-led free of charge trade argument to assist the free of charge movement of info, much to the discomfiture of American e-retail giants like Amazon and Walmart-owned Flipkart. The Indian bid for info sovereignty has strongly irked American and other e-commerce giants. They have begun to facial area the affect of India’s data localization and the evolving e-commerce coverage, which allegedly restricts their expansionist ambitions in the Indian current market. The Indian stance on facts sovereignty is considered to be the essential stimuli top to the suspension of New Delhi’s trade privileges underneath the U.S. GSP application. The use of GSP plan as a bargaining instrument by Washington to strike specials with the beneficiary economies is rarely new. The U.S. has commonly leveraged the program to progress its politico-commercial interests and typically arm-twisting associates from the creating earth.

Aside from the geostrategic underpinnings, the Indian practical experience reveals a number of structural weaknesses of the GSP software. First, the functions of renewal and assessment of merchandise or place eligibility below GSP has constantly been an advertisement-hoc process involving a terrific offer of policy inconsistency and uncertainty. The unilateral conclusion of the U.S. administration to exclude merchandise from the preferential category has frequently minimal the expansion and diversification of exports from acquiring nations. Most of these solutions are labor-intense, and low-end manufacturing items in which the establishing nations get pleasure from comparative rewards.

2nd, the competitive will need limitation (CNL) element of the plan has created a good deal of uncertainty and confusion related to the re-designation of the GSP status of a certain solution after the export volumes have absent below the threshold. For illustration, India’s requests for re-designation of items had been repeatedly ignored by Washington in 2008 and 2009 on account of pressures from its several enterprise groups and personal corporate entities. In truth, the U.S. domestic lobby has closely monitored export volumes of find products and solutions from India so that they could revoke the previously waivers savored by these products as a substitute of granting them new types.

3rd, the “development” agenda of the U.S. GSP program is beset with contradictions. While the zero tariff techniques on merchandise from BDCs delivered them with obtain to marketplaces in formulated nations, the slim aim on individual items on the other hand, hindered the expansion of exports as very well as their world wide competitiveness. On top of that, the a person-way preferential plan has rendered the course of action of tariff liberalization in creating international locations incomplete, intensifying the gap among the formulated and developing nations around the world additional.

In view of these types of structural shortcomings and ambiguous advantages below the GSP system, the decline of India’s preferential position can be additional of a diplomatic setback than an economic just one. The inability to forestall the end of the preferential trade status calls into concern New Delhi’s robust bilateral ties with Washington and phone calls for re-evaluating India’s diplomatic possibilities vis-a-vis the United States, ahead of the current trade-related discontent grows into a bilateral trade dispute in the coming several years.

The conclude of GSP standing in the quick operate involves Indian commerce section to handle personalized obligations on the international imports and easing regulatory criteria for international firms, enabling them to do business in India. Owing to New Delhi’s elevating of import responsibilities because 2017, different WTO customers have lodged issues, out of which seven are slapped by the US and are pending for conclusions at the WTO Dispute Settlement System. On the export aspect, the conflict lies vis-a-vis India’s trade distorting export subsidies, which necessitates putting in spot a recalibrated solution that would boost the competitiveness of Indian exports and drive them increased in global value chain.

In the long run, however, the U.S. withdrawal of obligation cost-free added benefits to Indian products presents handy chance to increasing India’s international trade and investment procedures. Much more importantly, it serves as well timed reminder to the Indian policymakers that dependence on the trade preferential schemes is a double-edged sword, the place the small-term rewards are incompatible with the lengthy term industrialization and developmental plans of the beneficiary international locations.

Priyanka Pandit is a Exploration Fellow at the Indian Council of World Affairs, New Delhi.

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sabrinawhill · 6 years

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U.S. to End Trade Preference Program for India and Turkey

An announcement from the Office of the United States Trade Representative indicates that Turkey and India will both be removed from a trade preference program afforded by the U.S. The two countries have been included in the Generalized System of Preferences (GSP) program for several years. The GSP program is designed to assist developing countries that may not have a particularly strong economy…

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#trade agreement #trade policies

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global-news-station · 6 years

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Turkey’s trade minister on Tuesday said US plans to end the preferential trade status granted to Turkey conflicted with the NATO allies’ push to increase commercial exchanges.

“This decision contradicts our mutual objective of reaching bilateral trade volume of $75 billion… The decision will also negatively affect US small and medium-sized enterprises and manufacturers,” Ruhsar Pekcan said on Twitter.

“We still would like to pursue our target of increasing our bilateral trade with the US who we see as our strategic partner, without losing any momentum,” she said.

The United States Trade Representative’s Office said on Monday that Washington intended to end “India’s and Turkey’s designations as beneficiary developing countries under the Generalised System of Preferences (GSP) program.”

The office made the decision at US President Donald Trump’s direction, saying that it was because the countries no longer complied with eligibility criteria.

Under the GSP programme, some products may enter the US duty-free if countries meet criteria which include offering the US “equitable” market access.

Turkey was made a GSP beneficiary in 1975 and the office said Turkey had shown a “higher level of economic development” meaning that it could be “graduated” from the programme.

Relations between the US and Turkey have been strained, especially following the 2016 failed coup and Washington’s support for a Syrian Kurdish militia viewed by Ankara as a “terrorist offshoot” of Kurdish insurgents within its borders.

Last summer ties worsened over the detention of an American pastor, during which Trump doubled tariffs on Turkish steel and aluminium, and sanctioned two senior Turkish officials. Pastor Andrew Brunson was later released and relations improved.

The post Turkey lambasts US move to end special trade status appeared first on ARYNEWS.

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nextwealth-blog · 6 years

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Assisted Digitization: Human Touch to Digital Process - MSMEs

In the first post I talked about unequal impact of digitization (or Human touch to digital processes) on different sections of consumers. I had emphasized that people living in rural areas need assistance to extract the benefits of digital processes. Assistance that would help them bridge gap with digitally-savvy urban consumers who share the enormous benefits.

Like rural consumers, the industry group of Micro, Small and Medium Enterprises (MSMEs) too need assistance to extract the benefits of digitization. The MSME sector has emerged as a highly vibrant and dynamic part of the Indian economy. It continues to play a crucial role by providing vast employment opportunities at comparatively lower capital cost as compared to large industries. The sector also helps in industrialization of rural and backward areas, thereby assuring more equitable distribution of national income and wealth. The MSME sector contributes around 37% of India’s Gross Domestic Product (GDP) and encompasses over fifty million companies and entrepreneurs accounting for a vast bouquet of products/services that address both domestic and export markets.

When digital upsets the equilibrium

Today, all businesses, large and small, are getting impacted by Human touch to digital process and they cannot afford to ignore the sweeping change. The MSME sector too is struggling to make sense of the opportunities and challenges presented. This is in contrast to the confidence and ability of large enterprises that have the wherewithal to invest in the necessary infrastructure and get the best advice in the business. For example, organized retail (like Reliance Fresh, More, Heritage Fresh and others) and online e-commerce firms (Flipkart, Amazon etc.) have employed digital technologies to cut into the business of millions of kirana shops dotting the country, especially the rural markets. By themselves, MSMEs do not have the ability or the capacity to face the onslaught on their livelihoods. In short, this exciting and vast sector is essentially isolated from harvesting the benefits of Human touch to digital process.

The fundamental problem

MSMEs are either unable, or slow to adopt digital technologies, not because they do not want to. The problem arises because solutions are not specifically designed and built for this sector. Some of the main impediments include:

· Lack of MSME-specific and cost-effective solutions

· Lack of technology in-house skills and infrastructure

· Lack of easy-to-use interfaces

· Lack of financial capacity to invest in capital expenditure

The assistance MSMEs need

In the context of MSMEs, the need of the hour is assistance in the form of a ‘Total Solution’ to their problems. This can be largely accomplished by re-purposing the same digital technologies used by larger enterprises. This comprises hardware, software, applications, communication bandwidth, simple user interface, training, support, and ease of use – all in a box. This solution package needs to be offered at a very low, affordable and variable cost. Importantly, there should be no fixed capital costs.

Assistance is here

Fortunately, such assistance is coming from different sources in different forms. Both the Governments (center and state) are giving strong support to address the above problems. Industry associations and trade bodies are responding to some of the issues by reducing the friction that occurs on course of adopting Human touch to digital process. Finally, a slew of new-generation companies and start-ups are working overtime to capture a big slice of the opportunity to provide digital solutions to MSMEs.

The Government of India is giving high priority to the role of MSMEs in nation building by creating a separate department of MSME under a cabinet ranked minister. The department evangelizes the use of digital technologies through many initiatives for the sector and also coordinates with other departments and state Governments.

A case in point is the recent launch of an online portal and mobile MyMSME app to monitor different schemes promoted by the Government. The Government has also decided to implement “Digital MSME” scheme for the promotion of digital technologies by adopting Cloud computing. The objectives are to improve their competitiveness, business process standardization and productivity improvement – all through the Cloud platform, thus reducing the burden of investment.

The roll out of Goods and Services Tax (GST) – the new tax regime driven by the Government of India is a good example. It has come up with a Government-to-Business (G2B) portal that acts as a comprehensive platform for taxpayers to conveniently interact with and access the GST System. The portal has opened its application programming interfaces (APIs) so that third party application developers can use them to develop new and innovative solutions for GST compliance and also integrate with existing applications like SAP, Tally and other. Some of these new applications help MSMEs in uploading invoices, information and filing returns as required by GST. Taxpayers can access the secure GST system via desktop, mobile and multiple applications.

Recognizing the crucial need for assistance, the Government has introduced – GST Suvidha Provider or GSP. The Government’s endeavor is to build a vibrant GSP ecosystem and ensure its success by putting in place an open, transparent and participative framework for capable and motivated enterprises and entrepreneurs.

Confederation of Indian Industry (CII), India’s premier industry association, has created an online business resource center called MyCII covering four critical aspects of business operation:

· Business leads

· Industry and regulatory information

· Global and local networking

· Latest industry research and knowledge

This platform has proved to be very valuable to MSMEs.

NASSCOM, not-for-profit industry association representing Information Technology (IT) and Business Process Management (BPM) industry in India, initiated the E-Marketplace (under beta testing) specifically for their MSME members. This platform helps members with their marketing activities and generates leads from United States and Asia Pacific markets.

Even private sector enterprises and new-age startups are offering assistance to MSMEs. For example, CoreLogs offers to help identify potential clients in the IT sector for products and services. Another StartUp, Power2SME is on a mission to empower SMEs and enhance their overall productivity and deliver measurable business value.

The portal helps SMEs to focus on their core business of accelerating growth – both in terms of revenue and development. The challenge is in creating awareness, and then acceptance. This calls for an elaborate and broad-based plan to educate the target audience on the advantages of new Human touch to digital process and their benefits.

Smart MSMEs will do well for themselves if they latch on to opportunities provided by digitization with assistance coming from the government agencies, trade bodies and Start-Up ecosystem.

#Human touch to digital process

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