President Donald Trump on Friday announced the South Asian country’s removal from a special trade program, saying it had “not assured the United States that India will provide equitable and reasonable access to its markets.” The program, known as the Generalized System of Preferences, exempted Indian goods worth more than $6 billion from import duties in 2018, according to the Congressional Research Service.
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Here’s what’s at stake, and why the two countries still need each other.
One of President Trump’s biggest priorities has been reducing the United States’ trade deficits with countries around the world, and its $142 billion trading relationship with India is skewed in favor of India.
