Categories: Business

India out of US’ developing nations list for trade benefits

The US removed India from its list of developing countries that are exempt from investigations into whether they harm American industry with unfairly subsidised exports. The United States Trade Representative (USTR) eliminated a host of countries including Brazil, Indonesia, Hong Kong, South Africa and Argentina.

The US removed India from the list on account of it being a G-20 member and having a share of 0.5% or more of world trade. The move has cast a shadow on India being able to restore preferential benefits under the Generalised System of Preference (GSP) as part of its trade talks with the US, as only developing countries are eligible for it. India’s share in global exports was 1.67% in 2018. In global imports, it was 2.57%.

Important takeaways for all competitive exams:

Capital of the USA: Washington, D.C.
President of USA: Donald Trump.

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Sumit Arora

As a team lead and current affairs writer at Adda247, I am responsible for researching and producing engaging, informative content designed to assist candidates in preparing for national and state-level competitive government exams. I specialize in crafting insightful articles that keep aspirants updated on the latest trends and developments in current affairs. With a strong emphasis on educational excellence, my goal is to equip readers with the knowledge and confidence needed to excel in their exams. Through well-researched and thoughtfully written content, I strive to guide and support candidates on their journey to success.