Left Menu
Development News Edition

Turkey out from US' preferential trade partner; suspense over India looms

Devdiscourse News Desk | Washington DC | Updated: 17-05-2019 08:06 IST | Created: 17-05-2019 07:29 IST
Turkey out from US' preferential trade partner; suspense over India looms
Trump, in the proclamation issued Thursday, said he has determined "the designation of Turkey as a beneficiary developing country is terminated, effective May 17, 2019." Image Credit: Pexels

US President Donald Trump in a proclamation Thursday terminated the designation of Turkey as a beneficiary nation under its Generalized System of Preferences (GSP) while the suspense on India continued. GSP is the largest and oldest US trade preference programme and is designed to promote economic development by allowing duty-free entry for thousands of products from designated beneficiary countries.

The termination of Turkey, a NATO ally, becomes effective May 17. On March 4, President Trump announced that the US intends to terminate India's designation as a beneficiary developing country under the GSP programme. The 60-day notice period ended on May 3. There was no word either from the White House or the US Trade Representative (USTR) on the fate of India's status as a GSP beneficiary nation.

For all practical purposes, it can come any moment now, but some unconfirmed reports said that after the recent India visit of Commerce Secretary Wilbur Ross, the Trump Administration has agreed not to take a formal decision on India's termination from GSP at least till the ongoing elections are over. In recent weeks, several top US lawmakers and industry representatives have written to the Trump Administration to pause their decision on it till the new government is formed after the results of the elections are declared on May 23. But there has been no word from the Trump Administration on this so far.

Trump, in the proclamation issued Thursday, said he has determined "the designation of Turkey as a beneficiary developing country is terminated, effective May 17, 2019." Further, the exemption for Turkey from the application of the safeguard measures on CSPV products and large residential washers is removed, effective May 17, 2019, he proclaimed.

"Consistent with my determination that it is appropriate to terminate the designation of Turkey as a beneficiary developing country under the GSP, effective May 17, 2019, I have determined to remove it from the list of developing country WTO Members exempt from application of the safeguard measures on CSPV products and large residential washers," Trump said in his proclamation.

The United States had designated Turkey as a GSP beneficiary developing country in 1975. An increase in Gross National Income (GNI) per capita, declining poverty rates, and export diversification, by trading partner and by sector, are evidence of Turkey's higher level of economic development, according to a USTR statement on March 4.

Under the GSP program, certain products can enter the United States duty-free if beneficiary developing countries meet the eligibility criteria established by Congress. GSP criteria include, among others, respecting arbitral awards in favour of United States citizens or corporations, combating child labour, respecting internationally recognized worker rights, providing adequate and effective intellectual property protection, and providing the US with equitable and reasonable market access. Countries can also be graduated from the GSP program depending on factors related to economic development.


TRENDING

OPINION / BLOG / INTERVIEW

‘Discounted Deaths’ and COVID 19: Anthropology of Death and Emotions

Death is a social event rather than the mere cessation of biological functions. As seen by anthropologists, death is not just physical but intensely social, cultural, and political....

Indigenous knowledge of communities a must for maximizing impact of community work

Generally, it has been observed that the majority of the academicians in higher education institutions neglect the wisdom of community people and throw their weight around thinking that they know everything and the community knows nothing. ...

In rebuking FBR, Pakistan’s courts take a stand for public health

The system, if implemented effectively, will allow Pakistans revenue service to combat the illicit trade in tobacco products and potentially add hundreds of millions of dollars to the states budget each year. ...

Dissecting how COVID-19 is catalyzing the trajectory of New World Order

The ensuing pandemic of COVID-19 has hit the globalization in two ways firstly, shrinking the importance of globalization as an economic force by curtailing mobility through worldwide lockdowns, and secondly, rejuvenating the idea of indig...

Videos

Latest News

Psyonix ponies up $300K for community Rocket League events

Game-maker Psyonix announced Friday that it is putting up 300,000 to back a series of 10 community-based Rocket League events running June 4-Aug. 9. Psyonix wrote in a statement posted on its website, We know that Rocket League and Rocket L...

Citigroup's Mason expresses horror over Minneapolis killing

Citigroup Inc Chief Financial Officer Mark Mason, one of the few black executives on Wall Street, published a personal essay on Friday expressing his horror, disgust and anger over the killing of George Floyd, an unarmed black man who died ...

Police: Woman killed after charging officer with knife

A woman armed with a butcher knife was fatally shot Friday after charging police officers outside a Florida government building, authorities said. Temple Terrace Police Chief Kenneth Albano said during a news conference that the shooting oc...

Biden urged to pick black VP, not Klobuchar as Minneapolis killing stokes racial tensions

Former Vice President Joe Biden is facing fresh calls to choose a black woman as his running mate amid rising racial tensions after this weeks videotaped death of an unarmed black man as a white Minneapolis police officer knelt on his neck....

Give Feedback