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Preferential Trade

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Official Audio Prompt

India has [blank] the impact of U.S. plans to end New Delhi's preferential trade status that allows duty-free access to products worth $ 5.6 billion. Saying that India has not assured the United States that it will provide ' equitable and [blank] access to its markets, U.S. President Donald Trump has directed the U.S. Trade Representative's office to remove India from a program that grants it preferential trade [blank] . In 2017, India was the biggest beneficiary of the Generalized System of Preferences (GSP), which lowers duties on exports from about 120 [blank] countries. The Indian commerce secretary told reporters in New Delhi that India has no plans to impose [blank] tariffs on U.S. goods.

Sample Answer & Audio Transcript

India has downplayed the impact of U.S. plans to end New Delhi's preferential trade status that allows duty-free access to products worth $ 5.6 billion. Saying that India has not assured the United States that it will provide ' equitable and reasonable access to its markets, U.S. President Donald Trump has directed the U.S. Trade Representative's office to remove India from a program that grants it preferential trade treatment . In 2017, India was the biggest beneficiary of the Generalized System of Preferences (GSP), which lowers duties on exports from about 120 developing countries. The Indian commerce secretary told reporters in New Delhi that India has no plans to impose retaliatory tariffs on U.S. goods.
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