Turkey and India reacted with a mix of anger and resignation Tuesday at the United States’ decision to end a preferential trade program with the countries that will see some tariffs return on goods.
U.S. Trade Representative Robert Lighthizer announced Monday that India and Turkey will within 60 days no longer qualify for a zero-tariffs status that is given to some poor countries to help them grow. The decision came at U.S. President Donald Trump’s direction.
Turkey’s trade minister slammed the decision, saying it would only harm American small- and medium-sized enterprises and manufacturers by raising costs.
Ruhsar Pekcan tweeted on Tuesday that Turkey intends to press ahead with efforts to increase trade with the U.S. to $75 billion “without losing any momentum.” Click here to read more.
- United States Will Terminate GSP Designation of India and Turkey (USTR)
- Donald Trump Plans to End India’s Preferential Trade Treatment (Times of India)
- Trump Moves His Trade War to a New Frontier as He Kicks India and Turkey Out of a $19 Billion Agreement (Business Insider)
- The Possible Impact of GSP Withdrawal for Turkey and India (TRT World)